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UK Finance Glossary

Mortgage Term Explained

Mortgage term is the length of time used to repay a mortgage.

Meaning

A mortgage term is the number of years used to spread mortgage repayments. Longer terms usually reduce monthly payments but can increase total interest.

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Updated for UK context

Content is written for UK finance searches, including UK tax years, lending terms, ISA rules, APR, and repayment assumptions.

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