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mortgage

A loan to buy a home. Technically, it is the security provided by a borrower to a lender in return for funds advanced - usually the property in question. Typically there are two forms of mortgage: repayment (or capital and interest), where the homeowner pays back both the loan and interest in stages; and interest only, where the homeowner pays just the interest until the end of the loan period, when the capital is also due to be repaid.

maturity

The date that an insurance policy or other financial contract finishes or "matures", and the proceeds, sometimes known as the maturity value, become payable.

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