I

Income Multiples

These are multiples that Lenders apply to borrower's income in order to determine the maximum loan they will offer them.

Indemnity

See Higher Lending Charge

Interest Only Mortgages

With this method the initial loan amount remains the same throughout the term of the loan, while the monthly mortgage repayments only pay off the interest being charged on this amount. For this reason, Interest Only Mortgages are tied to the investment in one of a number of different repayment vehicles, which ideally, should cover the initial loan amount at the end of the loan term. These repayment vehicles include Endowment policies, Personal Pensions, ISA's etc.

Introducer Fee

See Procuration Fees.