Glossary P

This option allows you to keep your existing home loan if you move house, without having to refinance.

A payment made before the due date of the loan or in addition to the minimum repayment. This can sometimes incur a penalty fee so be sure to check the terms and conditions of the loan.

This is the capital sum borrowed.

Principal & interest loan
This is a loan where both the interest and the principal is to be repaid.

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