• Rachael Panteney

The A-Z of Mortgages - E

There is a lot of jargon surrounding mortgages so we are here to help you understand your mortgage better!

E is for...

Early Repayment Charge - Some mortgage deals charge a fee if you pay some or all of your mortgage off before the end of the term, or transfer to another rate before the end of the product period.

Equity – The difference between the value of the property and the outstanding mortgage.

Equity Release Mortgage - A type of mortgage for the over 55s that allows you to access (or release) the equity in your home and turn it into a cash lump sum.

**Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits**

Endowment – A life assurance policy that is designed to pay off an interest only mortgage. Very popular in the 80’s and 90’s but less so now.

Exchange of Contracts – The point in the legal process of purchasing property where contracts are signed, and the deposit paid. Once signed, the contracts become legally binding and if either party pulls out, they will need to pay the other compensation.

Stay tuned for F coming soon, or visit our online blog for the full A-Z glossary here. For more in depth information, please contact us or call Rachael on 01323 436680 and book a FREE initial consultation today.

Willow Tree Financial Services.

A6 Chaucer Business Park,

Dittons Road, Polegate.

East Sussex, UK.

BN26 6QH

01323 436680


The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested. Your home may be repossessed if you do not keep up repayments on your mortgage. 

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Willow Tree Financial Services is a trading style of Rachael Panteney, an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority.

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