Can anyone explain to me in simple terms what an isa mortgage is.

[bouncy]

My partner and I are living together in his house and he wants to add my name on mortgage, he mentioned he has an isa mortgage, not heard of this before and dp didn't seem to know much either, just what was recommended at the time.

Your partner has a mortgage made up of two parts, an interest part, and an ISA (Individual savings account) which is invested to try to save up the capital to pay for the house at the end of the mortgage.

If he had a £100,000 mortgage he is now paying an amount every month to pay the interest on the £100,000 he borrowed, plus an amount into his ISA, which is being invested in the hope that in however many years (usually 25 years), the investment fund will earn up to £100,000 to pay back the capital amount.

That is it, in VERY simple terms

Thankyou that was very easily explained. One other quick question, are these risky like endowment, I remember all the trouble they have caused.

Yep, it is the same concept essentially as an endowment.

The amount of risk depends where the investment capital is put.

Ask the mortgage provider, or the financial advisor who helped him.

read this link

not the same as endowment because you're not tied to pay into one investment for 25 years so every so often you can review your investments to ensure that they will be adequate to pay off

Thanks all, Dp is paying £150 a month more than was advised and he has been told at the current rate he will pay off in 18 years instead of 25 year mortgage.