The mortgage definition for Term:
The period of years over which you take the mortgage and when you have to repay it. Most new mortgages are taken on a 25-year term.
Amortisation termAmortisation term
Expressed in months, this term states how long it will take to pay off a mortgage.
Decreasing term assuranceDecreasing term assurance
A life insurance policy that pays out a lump sum in the event of death. The amount paid out can be calculated so that it fall in line with your outstanding mortgage debt – meaning that over time the borrowers premiums also fall. This type of policy is well suited to providing cover on a repayment mortgage.
Brokers and other intermediaries attempt to arrange suitable financial products or policies for you. They can be fully independent, part of a network that uses a panel of providers, or tied to certain institutions in which case they can only sell their products.
Further Suggestions Intermediary
Level term assurance
Click to compare definitions of Term
Click to view definitions beginning te