Interest charges: The charges that are made on a loan by a bank or building society which are calculated as a percentage of the amount that has been borrowed/outstanding..

Interest only mortgage: This is a mortgage where the monthly payments to the lender purely cover interest only. A savings plan is often set up by a borrower which is designed to pay the amount of the loan at the end of the mortgage term subject to the savings plan performance (see endowment mortgage). If you choose an interest only mortgage,you are responsible for ensuring that you have sufficient funds available to repay your mortgage at the end of the agreed term..

Inventory: A descriptive list of condition and furnishings and contents of any given property normally associated with lettings..