Jargon Buster

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Glossaries

Term Definition
Income Multiples
These are the multiples that the Lender will apply to the borrower's income when trying to decide what the maximum they will lend them for their mortgage is.
Independent Financial Adviser
Someone that has undergone specific training and has obtained specific qualifications to become a financial adviser and to act independently without being tied to only recommending the products of any particular lender.
Instruction
When you give an estate agent or auctioneer the right to sell your property, defined by the agreement between you and them and the terms of sale.
Interest Charges
The fee charged for borrowing money
Interest Only Mortgages
There are 2 ways of repaying a mortgage; capital repayment or interest only.

Interest only mortgage is where you pay off the Interest on the mortgage loan only and are not paying off any of the loan itself. Often tied in with some other investment vehicle to cover the initial loan amount at the end of the mortgage term.
Interest Rate
The percentage of a loan paid, per year, by the borrower to the lender.
Intestate
To die without leaving a valid will: opposite meaning is to die Testate.
Inventory
A detailed listing of the contents of a property. Includes things like kitchen utensils and garden equipment etc. as well as the condition a property is in and the structural fixtures, fittings and power points etc.
Investment
An outlay of cash or credit with an expected return.

However the outlay of cash is only a true investment where thorough analysis has taken to place. In not analysis has taken place, this is pure speculation of gambling.