Financial Terms M

Monthly Repayment: The amount payable to a lender each month by a borrower towards the cost of the loan.

Mortgage: The name given to a loan used to purchase property or land.

Mortgage Code: The regulations that govern the business practices of mortgage providers.

Mortgage Deed: Legal document governing a loan on property or land.

Mortgage Term: The length of time over which a mortgage loan must be repaid.

Mortgage Payment Protection Insurance: Insurance which covers mortgage payments.

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