Glossary

Known as IFAs, these professionals offer independent financial advice on all financial matters. They have knowledge of the whole market and can recommend the most suitable financial products, such as mortgages.

A measurement used by lenders to determine changes to the Interest rate charged on an adjustable rate mortgage.

Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.

The percentage of a sum of money charged for its use.

The amount of interest charged on a monthly loan payment; usually expressed as a percentage.

A lien imposed against property without the consent of the owner, such as taxes and special assessments.