Definitions for "Interest Only Mortgage"
Keywords:  endowment, isa, pep, pension, repayment
This is a mortgage where only the interest is paid to the lender. A borrower should be aware that any capital repayment is an extra amount which will be over and above the interest paid. The capital will be repaid from an endowment policy, pension plan or PEP/ISA. It is the responsibility of the borrower to ensure that the repayment vehicle will pay off the mortgage at the end of the term. Remember that Life Assurance will also be costed separately.
Mortgage where interest charged only is repaid.
A mortgage in which requires no repayment of the principal.
Keywords:  popular, buy, way, home
a very popular way to buy a home
Keywords:  example, type, loan
an example of this type of loan