![Personal loans jargon buster - Tiscali Personal loans jargon buster - Tiscali]() |
Personal loans jargon buster - Tiscali
home. Secured means that if you fail to pay off the mortgage as agreed, the home can be seized by the lender and sold to repay the debt. There are two broad types of mortgage:repayment mortgage. Your monthly payments cover both the interest andterm, the loan is completely repaid. interest-only mortgage. Your monthly payments cover only the interest. Atrepaying it, for example, from the proceeds of an endowment policy, a personal equity plan, a pension or even sale of the property. There are many different mortgage variations, for example, variable rate where the interest
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