E - freedebtline.com

EARLY REPAYMENT CHARGE This is charged if the loan is repaid prior to a set period as laid down in the terms & conditions of the loan.
ENDOWMENT An investment vehicle combined with life assurance over a specific term. Typically used in conjunction with an interest only mortgage.
EQUITY The difference between the value of the property and the amount of mortgage outstanding. NB, can be positive or negative.