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Glossary

Buy to Let

A Buy to Let mortgage is a loan you can take out to buy an investment property that you or your family will not live in, and that you intend to rent out to tenants. 

 

Let to Buy

Is when you rent out your existing home and buy a new one to live in.

 

Critical Illness

Critical Illness cover pays out a lump sum if you are diagnosied with one of the 'critical illnesses' it covers.

 

Non Profit Whole of Life

A whole of life policy is a form of life insurance that pays out when you die. You pay fixed monthly premiums until you die. You agree on the payout amount when you take out the policy.

 

Income Protection

Income protection insurance is designed to replace a percentage of your income if you are unable to work due to illness or injury. The policy will pay out a monthly amount that can be used for any purpose but typically is used to cover mortgage payments, credit card payments and other household bills. Income protection insurance can be either a short-term or long-term policy with premiums paid monthly.

189, Richmond Road, Twickenham, TW1 2NJ
Tel: 020 8892 2400, Fax: 020 8892 2308, Email: info@virtuefinancial.co.uk