Income multiples or multipliers.
A lender will work out the size of a mortgage you can borrow by multiplying your annual income by a set figure. For one person the figure is often 3 or 3.5 times income. If a mortgage is taken out jointly with a second person, their income may be added to the first multiplier. Or it may be two-and-a-half times the two incomes added together.

Income protection insurance.
This covers accident, sickness and unemployment. It provides for a monthly payment if you cannot work for an extended period due to an accident or sickness.

Income references.
This is confirmation from your employer that you earn the amount you are claiming in your mortgage application.

Indemnity covenant.
A clause in the transfer document in which the buyer undertakes to indemnify the seller in respect of breaches in any of the restrictions in the title deeds that affect the property.

Independent Financial Advisors (IFAs).
These advisors can give you information on and recommend investment products from the whole range of companies.

Infill site.
The redevelopment of land that has adjacent buildings, for example along a row of terraced houses where one has been demolished or where a gap always existed.

Interest-only Mortgage.
A mortgage arrangement where the sum borrowed need not be repaid until the end of the mortgage term. Only interest is paid in the interim. The loan is often repaid by the proceeds of an investment plan like an endowment policy or a pension plan.

Insurance premium tax.
This is a tax on all UK general insurance. It is currently charged at 4% of the premium.