Mortgage Jargon F-J
Fixed Interest Rate
Fixed-rate charges the same rate of interest throughout the duration of the loan.
Fifth (5th) Charge Term Loan
An extra loan that is normally taken for general purposes. This type of loan has to be secured against a mortgaged property.
Home Content Insurance
An insurance policy that covers the replacement cost of all contents in a property for example TV, washing machine, beds, etc.
Joint Tenancy
The equal holding of property by two or more persons where they hold the property jointly and severally. Right of survivorship applies in joint tenancies.
