Mortgage Glossary

Build up your knowledge by using our mortgage glossary, here to help you understand the sometimes confusing terms used to describe mortgages and other financial related products.  We have laid out our glossary in an easy to use A-Z Format. If you are looking for personal finance like credit cards or loans, please visit cricket finance If you have any additions you would like to see, please feel free to contact us with your ideas.

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Definition: ARREARS
When a mortgage holder falls behind on their mortgage payments the missed payments are known as "arrears", a mortgage account which has outstanding missed payments is know to be "in arrears". An arrear occurs if the mortgage holder doesn't pay at least 75% of the mortgage payment in the month that it was due.



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The overall cost for comparison is 10.53% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. Early repayment charges apply. A broker fee of 1% may apply.  Your home may be repossessed if you do not keep up repayments on your mortgage.Our Financial Resources directory is available here