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A document that is given to customers to outline the service GE Money will provide, the regulation of the service, a summary of products, an overview of charges and company details. An IDD is used only for either mortgages or insurance.

A loan where you only repay the interest on your mortgage each month. The monthly payments only cover the interest on the loan so the outstanding amount stays the same. At the end of the loan term, the whole amount borrowed must be paid back in one lump sum.

As the monthly payments are for interest only, it is important when comparing the total monthly cost of an interest only mortgage with those of a repayment mortgage to include the money put aside as savings.