Buy-to-let mortgage
A loan you take out to buy a property which you intend to rent to tenants.

Capped mortgage
A mortgage that has a maximum limit on the interest rate you'll have to pay during a special deal period.

Cash back mortgage
A mortgage that comes with a cash sum (often a percentage of the amount you're borrowing).

Collared mortgage
A mortgage with a minimum interest rate you'll pay during a deal period.

Discounted mortgage
This has a discounted variable rate of interest for a set period, after which the rate will increase.

Early repayment charge
A charge you may have to pay if you break off a mortgage deal - by paying it back early and/or moving to another lender.

Fixed rate
An interest rate that is fixed (ie it doesn't move up or down) for a set period of time.

Interest-only mortgage
A mortgage where you only pay the interest charges of the loan each month. This means you are not reducing the loan amount (or capital) itself, and this will need to be repaid in some other way.

Loan-to-value - The percentage of money you want to borrow compared to the cost of the property.

Re mortgaging - The process of changing your mortgage for a different one, without moving home.

Repayment mortgage - A mortgage that pays off both the home loan and the interest at the same time. Make all the payments and the mortgage will be fully repaid.

Standard variable rate mortgage - A loan at the lender's normal mortgage rate - ie without any discounts or deals.

Secured - A mortgage is a secured loan on your home; this means that if you fail to repay it, your lender may be able to sell your home to get its money back.

Tracker mortgage
A mortgage with an interest rate that is usually linked to a particular rate that is set independently from the lender and moves up or down with it.

Valuation - A brief inspection, for the benefit of your lender, of the home you hope to buy. This is to make sure they are not lending more than the property is worth and that the property is suitable security for the mortgage, but this will not tell you if it is a good or bad buy. For your own peace of mind, you may want your own survey.

Critical illness cover
Insurance that pays a lump sum if you're diagnosed with a specified critical illness covered by your policy.

Health cash plans
Provide limited cash sums towards everyday healthcare bills.

Income protection (or permanent health insurance)
Insurance that pays you a monthly income if you're unable to work due to illness or injury, until you are able to return to work, or retirement, whichever is the sooner.

Investment-backed life insurance
Life insurance which has two roles: to protect you, and to act as an investment. These include Whole-of-Life insurance, With-profits bonds, Income and growth bonds, Endowment policies and Maximum Investment plans.

Joint life
Typically, life-cover to protect a family in the event of either or both parents dying.

Mortgage protection insurance
Accident, sickness and unemployment insurance (or payment protection insurance) used to cover your mortgage payments.

Payment protection insurance PPI (or accident, sickness and unemployment cover)
Pays out a regular amount (repayments of a loan, although some cover bills as well) for a limited time – a year, say – if you can't work for health reasons or redundancy.