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Financial  Glossary of Finance Terms

Financial Glossary of
Finance Terms

Term

Term is the length of time before the mortgage must be repaid, usually this is 25 years but 30 year term are becoming increasingly common.

Generally a term cannot exceed someones expected retirement age ( Usually 65) unless the applicant can provide evidence of how they intend to pay for the mortgage in retirement

 

 


 

 

 

 

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