An interest only mortgage where the outstanding loan at redemption will be repaid using the proceeds of a series of ISA investments. The ISAs do not guarantee repayment of the loan at the redemption date.
A mortgage loan funded by contributions to an Individual Savings Account. The ISA aims to repay the loan's capital at the end of its term, but the interest element must be paid separately as you go along. It's important to remember that past performance is not necessarily a guide to future performance.
an interest only mortgage combined with a tax-efficient investment (the
a particular type of interest only mortgage
Interest only mortgage linked to ISA savings fund, designed to repay the mortgage at the end of the term.
A mortgage loan funded by contributions to an Individual Savings Account. ISAs provide tax-free growth, generated mainly by stock market investment. The ISA aims to repay the loan's capital at the end of its term, but the interest element must be cleared separately as you go along.
(Individual savings account mortgage) (Type of investment related mortgage - see investment vehicles for detailed explanation)
This is a type of interest only mortgage where the borrower uses an ISA (Individual Savings Account) to repay the capital at the end of a mortgage term.
A mortgage, which will be repaid from the proceeds of an ISA.
This ressembles an endowment mortgage but the saving scheme is an ISA and the contibutions are restricted.
An ISA is an Individual Savings Account. They started in April 1999 and are designed mainly for long-term savings (although cash ISA's are available which are just like savings accounts). ISA's replaced Personal Equity Plans (PEP's) which were also long-term investment plans that could have been used to pay off a mortgage. ISA's are guaranteed to run until 5 April 2009.
