E

Early Repayment Charge
A charge payable on some mortgages if they are repaid early (during an Early Repayment Charge period). The amount depends on the mortgage outstanding and the terms of the mortgage.

Easement
A legal right over land, for example the right to access a specified area of land, such as a right of way.

Equity
The difference between the value of a property and the amount of mortgage and/or secured loans owed.

Exchange of contracts
The point at which both buying and selling parties sign their copies of the contract which are exchanged by their respective legal representatives and are legally binding. The buyer usually pays a deposit at this point and the date of completion is agreed.

Your home may be repossessed if you do not keep up repayments on your mortgage

Prudent Retirement Planning Limited is entered on the FSA register ssssssssssssssssssssssssssssssss under reference 458112