First National Glossary

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Term

The time length of a home loan. Payments made may not fully repay the outstanding principle by the end of the term because the amortisation period is longer. For example, a Fixed Rate Loan might have a five year term, but it will take 20 years to repay the loan completely. When a term expires, the loan is renegotiated.

Glossary of Other Real Estate Terms in Q-T:
  >   Reserve Price
  >   Sale by Private Treaty
  >   Settlement
  >   Solicitor
  >   Stamp Duty
  >   Strata Title
  >   Tenants in Common
  >   Title Search
  >   Torrens Title
  >   Qualified Title
  >   Real Property
  >   Requisition of Title
  >   Right of Way
  >   Rise and Fall Clause
  >   Security
  >   Semi-detached
  >   Sole Agency
  >   Stratum Title
  >   Survey
  >   Term
  >   Townhouse
  >   Transfer
  >   Tenancy Agreement Document
  >   Tenant
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