Jargon Buster

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There are 2 names in this directory beginning with the letter M.
Mortgage Offer
This is the official document that details the terms and conditions of the mortgage including the amount, interest rate, term and any charges.
Mortgage Payment Protection Insurance, sometimes called ASU (Accident Sickness and Unemployment). This is generally a short term insurance (one to two years) that is designed to cover the amount of your mortgage and associated costs if you are unable to work due to accident, sickness or unemployment.