click on the relavent letters to find out what words mean
- z
Abacus-money Jargon
A
Advance
The mortgage loan. The amount of money you are borrowing.
APR
Annual Percentage Rate. This takes into account up-front and ongoing costs associated with taking out a mortgage.
Arrangement Fee
This is normally charged by the lenders for arranging a fixed, capped or cash-back mortgage.
ASU
Accident, Sickness and Unemployment (also referred to as MPPI - Mortgage Payment Protection Insurance). This is an insurance policy designed to provide a regular income to pay the mortgage, should the borrower become unemployed or be unable to work due to a serious accident or serious illness.