Payment of debt in regular instalments of principal plus interest, as opposed to interest-only repayments.
The number of months it will take to repay a loan completely. The maximum period is usually 25 years for a home mortgage.
A measure of the cost of the loan including interest and fees, expressed as a yearly percentage rate
What you own, including the value of your property, cash, securities etc.
The profit you make when you sell an asset for more than its cost.
The money paid up front on the purchase of a property at the beginning of a loan term.
The act, by the bank, of making the money you borrowed available to you, usually by crediting your account.
The difference between the price at which an asset can be sold, minus the total debt listed against it.
A loan taken at an interest rate which is fixed for a set term, regardless of changes in the market.
A person, usually related to the borrower, who guarantees that the loan is fully repaid.
A charge for money advanced or lent by the lender.
Your outstanding debts, or what you owe.
Your monthly loan repayments divided by your gross income expressed as a percentage.
Your loan amount divided by the bank's valuation of your assets expressed as a percentage.
The actual amount borrowed or owed on a loan.
Assets pledged to ensure the repayment of a loan.
The length of time of a loan.
Your available income after all monthly expenses, including loan repayments, have been deducted from your gross monthly income.