It is a help when tracing your family history to know something about the origin of and evolution of Irish names and particularly how names have changed over the centuries.
Repayment mortgage. With repayment mortgages you pay the interest and part of the capital off every month. At the end of the term, typically 25 years, you should manage to have paid it all off and own your home.
(We'll talk more about how to get a loan in a minute.) The bank loaning the money is the lender. The amount you pay to the bank each month is your mortgage payment. The rate of interest on the loan is the mortgage rate (or the interest rate).If you don't make your mortgage payments then the bank will repossess the house. (This is called foreclosure.) Then they'll sell it to make sure that they can recoup the money they loaned to you, and that you didn't pay back.he amount you pay to the bank each month is your mortgage payment. The rate of interest on the loan is the mortgage rate (or the interest rate). If you don't make your mortgage payments then the bank will repossess the house.