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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Individual Savings Account ISA

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The ISA (Individual Savings Account) is a government initiative that allows individuals to save up to approximately £7,000 per year in shares and cash, tax free. Many borrowers use these savings to create a sufficiently large lump sum to pay off the mortgage at the end of the term. Some lenders offer a linked account that allows borrowers to save regularly in this way.

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