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Tenant Loans Glossary



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E.


Earned Income.

Income generate through work such as salary or wages. Unearned income is income from bank interest or pensions, for example.



Endowment.

An investment fund which was a popular way of saving for the eventual capital repayment of and interest only mortgage.



Equity.

The difference between the value of a property and the amount of credit secured against it including a mortgage.



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