Term
The length of time over which you will pay your mortgage.

Term Assurance/Insurance
The simplest and most common type of life insurance, term assurance/insurance pays out a lump sum if the policyholder dies at during the term of a policy. Level term assurance/insurance pays a fixed lump sum, which normally covers the fixed outstanding amount of an interest only mortgage. Decreasing term assurance (also known as Mortgage Protection) will also pay out a lump sum on death, usually to cover the decreasing outstanding amount of a capital repayment mortgage.

Tracker Mortgage
A mortgage with an interest rate usually linked to the Bank of England base rate (or other specified rate eg. Libor), which moves up or down in line with the rate that it is tracking.