Jargon

Don’t know your Abstract Title from your Deeds of Sale? Then use our jargon buster for a simple explanation of all the weird and wonderful phrases affecting your nest.

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Individual savings account (ISA) mortgage
An interest only mortgage linked to an Individual Savings Account fund, which is designed to pay off the loan at the end of the period.
Initial Interest
Any payment due for the period from the day the mortgage began up to the first payment. Interest charges - The charges that are made on a loan by a bank or building society which are calculated as a percentage of the amount that has been borrowed/outstanding.
Initial Term
This describes the first term period of the tenancy.