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Mortgage Jargon Buster
mortgagemotorway.com have compliled an a - z of mortgage jargons used in this sector they explain products, services and general terms used to help you understand mortgage and finance products. If you would like further assistance please feel free to contact a member of the team.
Advisor Direct: Miss Patsy Morris
Telephone: 0845 121 3155
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Email Direct: pmorris@mortgagemotorway.com
Select your mortgage term from our A - Z list below:
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Occupational Pension
A pension scheme run by trustees which and which may be either fully or partially funded by an employer.
Ombudsman
See "Financial Ombudsman Service."
Open Market Value
See "Fair Market Value."
Other Income
Income that is in addition to basic salary.
Outgoings
See "Liabilities."
Outstanding
The amount of money remaining to be paid.
Overpayment
Situation where repayments are increased so that the mortgage is repaid before the end of the agreed term. Some mortgages (flexible mortgages) allow for overpayment, but others may impose early redemption penalties for overpayment.
