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guide | Mortgage glossary
- the normal place of residence, see also: holiday
home and second home.
- money either paid or received under a court order in respect of
a previous partner or child.
- property comprising more than one separate dwelling; used to describe
a flat which extends over more than one floor or a flat which, despite
there being other units in the building, has its own entrance at
- loan secured by land.
- legal document establishing a loan on property.
- a payment made by an employer to subsidise the cost of interest
payments on a home loan. The amount and extent of the subsidy will
vary from employer to employer and these can be calculated in a
variety of different ways. It is advisable to seek a specific statement
from your employer on the operation of the arrangement.
- length of time before the mortgage loan must be repaid.
- Mortgage Payment Insurance - Insurance cover to protect your mortgage
- an abbreviation for mortgage(s)
Courtesy of UKMortgageangels.co.uk
- factor applied to a prospective borrower's income to calculate
how much can be borrowed. See submenu