Jargon Buster

A B C D E F G H I J K L M N O P Q R S T U All 

No Negative Equity Guarantee
Interest-only roll up mortgage plans provided by SHIP members guarantee that neither you or your estates can be put into negative equity. The plans guarantee that the interest rolling up against the retained equity in your property will cease to accrue once it reaches the value of your remaining equity. Please note that some non-SHIP members also offer these guarantees.

No Repayments
SHIP members' mortgage plans do not require any payments during the lifetime of the plan member unless you move house. Interest payments continue under the mortgage plans until your property is sold or the loan and interest is repaid. The mortgage is redeemed on death or earlier vacation of your property out of the proceeds of sale by your estate or plan provider.

This site is for UK residents only