The state investigators also noted that maintaining any escrow account cushion would be illegal unless the mortgage contract specifically allowed for one.

Thirty years is often used in mortgage contracts and US Treasury bonds such as the "long bond".

A large proportion of mortgage contracts and tenancy agreements prevent residents from working from home.

There are only about 300,000 mortgage contracts in the whole country: less than half of 1pc of the population has borrowed from a bank to buy their home.

If a rate on a mortgage contract increases significantly, this is generally a windfall for the lender.

Most adjustable-rate mortgage contracts limit annual increases to 2 percentage points.

A 'home finance activity' may be a regulated mortgage contract, a home purchase plan or a home reversion plan.

Hazard Insurance: insurance that is generally required under mortgage contracts to pay for loss or damage to a person's home or property.

It is important to understand their terms, risks, and costs before you sign a reverse mortgage contract.

It's true that nobody forced homeowners to sign mortgage contracts at gunpoint.