Mortgage Bankers Association

Additional security fee

An additional fee of Security (Guarantee Mortgage Allowance) are taken to the charge of a creditor that your insurance covers, so if a late payment will not suffer any loss. You have to pay additional taxes for security and the premium with your mortgage early. Even if you pay the premium, remember that this policy is to protect your lender and is not for you.

Administration Fee

Theadministration, the amount charged by the provider to begin work on the documentation, as a part of your loan application. This includes tax assessment at home. The administration fee will not be returned, even if the score is not performed, or if your application was rejected.

Negative Credit

Negative credit is when you have a history of bad credit, bankruptcy, CCJ, arrears or a loan. Negative credit can also be called bad credit, bad credit, or can besaid that you have a low credit score.

Agricultural constraints

A restriction on agricultural is a rule that are not, as a property if the claim is in no way connected with agriculture.

Percent

The annual rate of growth is the rate at which it borrows money from lending. It includes all the initial costs and expenses you will pay during the entire loan period. As the name suggests, the annual rate in April, the price of securities listed on a yearly rate. The annual rate of interest is a good way to compare offers from other lenders, which is based on the annual cost for each loan.

Assignment

Allocation or division, is a service that lets you share responsibility for public utilities, property taxes, etc., with the buyer or the seller of the property when it is selling or buying properties.

Arrears

Arrears occur when you default on your> Payment Mortgage or any other form of payment of the debt. If you are late on the registration of your current connection, you get problems when you want to watch the conversion or get a new loan.

Arrangement Fee

A fee agreement is the amount paid for the provider to gain access to special offers guides. While you are looking for a lump sum, credit or discounted rate mortgage, you pay tax at the time ofapplication, will be added to the loan at the end of the term, or that the loan is closed, will be deducted.

Task

One task is the document that the transfer of the lease property or property rights of a seller to a buyer. Could be a budget to build the company in connection with a mortgage.

ASU

ASU is an accident, sickness and unemployment insurance that covers your mortgage payments in the event of an accident, aillness or involuntary unemployment.

Auction

The auction of a property to the person who quotes the highest bid. Winning bidder must sign a binding agreement to ensure that there will be assessments, research, etc., before selling the property.

Authority to inspect Register

The power to inspect the registration document is a document fro the right or the registered owner of a property, the lawyer for the purchaser to obtain informationproperty.

Draft banker

A bank is a way to make a payment. Apparently, it is the same as a control, but in reality it is a cash payment. The money was donated to the bank, and bring a certified check that is good for the amount determined.

Base Rate Tracker

Tracker base rate is a type of bond where the interest rate is variable but is fixed at a premium (above) of the Bank of England base rate for a period or for the entire periodconnection. The best thing about this type of bond is that there is little or no redemption penalties are. This means that the overpayments doing, you will be able to save on interest by repaying the loan before the agreed date for the original loan agreement.

Booking

A charge of booking or arrangement fee is charged when you apply for a fixed or capped rate loans. User fees are generally not refundable if you pay in advance, butSometimes the book fee is added to the final mortgage payment.

Bridging

A bridge loan is useful if you want to buy a property, but his ability to do this depends on the sale of your property history. This is a short-term loan that is paid once the old property sells. Speaking with a financial adviser before making a bridging loan to ensure that the best solution for you.

Broker Fee

A broker fee is paid to your adviser or debtintermediary to help you get the best connection, or loans for your situation. BSAThe BSA, or the Building Societies Association, a group that works to assist member companies.

Building Societies Commission

Building Societies Commission is a regulatory body for construction companies. Commission reports to the Ministers of the Treasury.

Building Society

A construction company is a 'common organization which providesmoney to buy or structured residential buildings. This money comes from individual investors who have paid interest on their funds. As part of building society funds is also raised through commercial money markets.

Buy-to-let

If you purchase a property for the sole purpose of renting out, so you can apply for a buy-to-let mortgages. The payments for this type of binding is calculated by the expected income instead of personalincome.

Principal and interest

The monthly mortgage payments consist of two parts: interest and principal. Remuneration is a payment of interest on the remainder of the loan. The capital payment is a payment amount that you borrowed.

Capital

Fundraising in general means the conversion of an amount greater than what you'll pay the existing mortgage in order to use excess funds for other personal financial needs.

CappedRate

A maximum rate is the price that exceeds the normal variable interest for a specified period (1-5 years), as determined by your husband and the lender. If the standard variable rate drops below your reduced rate, the rate will fall accordingly.

CashBack

Cash Back amount is displayed when a mortgage is, can amount to be determined, if a percentage of the mortgage.

CCJ

CCJ is aboutCounty Court ruling. This is a decision of a judge of the county against you reach when you are in default on its debt. If you cancel the debt in a given period of time, a note will be satisfactory to your credit report without indicating that the debt is taken care of.

Centralized Loan

A creditor is a provider of centralized loan that does not depend on a network of branches for the distribution is not. Centralized lending is now provided through the construction of different communities. TheseCommunity works separately from their branch networks and rely exclusively on mortgages from intermediary sources.

Charge

A charge interest on a loan as a freehold or leasehold may be taken.

Charge Certificate

A certificate of lading is a certificate of HM Land Registry, which is issued to you by your name as the title registered for a particular property. The certificate must contain information about limitations, mortgages and other interests. Has three distinct parts: a registration fee of a register of property and a property name. If there is no mortgage on the property, is called a certificate issued to land the registered owner.

Furniture

The furniture in the house moving parts, such as furniture or personal rent possessions.Chief main interest paid by the owner of a freehold property. It 'the same as the rents paid by a tenant.

CML

Advice> Mortgage institutions

Realization

Realization is a concept that explains why you are the owner of the house, after the formalities of sale and purchase of goods.

Conditional Insurance

When you have a fixed or discounted rate mortgage, the lender may try to convince an assurance that all payments lost due to illness, accident, or lending of coverage of unemployment.

Contract

A contract is a rightbinding purchase contract. There are two identical copies signed by both buyer and seller, and each party shall retain a copy for their records. When both parties have signed the contract made with the terms of the contract.

Travel

The transfer is the act, a freehold, unregistered title is transferred. The action is called a command, if your property is registered or lease. If the property is registered, the instrument is calledtransfer.

Transfer

Transfer and the legal process by which the purchase and sale of a property occurs.

Alliance

A pact is a guarantee given in a deed.Credit scoring Credit Scoring is the process by which a lender evaluates your ability to pay before the offer of a loan or a mortgage.

Credit check

A search for credit is made by a lender and a credit for the records search CCJs and other indicators of poor credit.

DebtConsolidation

Debt consolidation is the process by which a loan or a bond to meet a series of high-yield debt. In this way, you just need to make a payment for each month and you will save significantly on interest charges.

Stocks

An appeal is a legal act, which means that the owner of a particular property. You can transfer a title on both freehold and leasehold with an act.

Deposits

A deposit is the amount you dropagainst the purchase of a property.

Disbursements

Disbursements will be no invoice for the fees of lawyers in land registry, searches, faxes, etc.

Discounted votes

Lower prices to attract new borrowers by lenders to determine the interest rate is lower than the normal variable rate for a guaranteed period. If the full loan discount rate in the early years to repay the lender, you pay penalties for early repayment.

PrepaymentFine

A prepayment penalty charged by your lender if you're not a part or full payment of your mortgage amount before completion of the mortgage term. This penalty will be charged if you decide to sense and move your mortgage to a new lender . Early redemption penalty applies mainly to fixed rate, discount and cashback mortgages.

Easement

Servitude is a right that the owner use the land foranother for a limited purpose, such as the right of way.

Guide supplied

Endowment mortgage is a mortgage interest is only supported by a budget. During the term of the loan will pay only the interest on the borrower, and your reward will turn in a budget that matures during the period of your loan. Endowment is designed to pay the debt, and function of life insurance.But it may depend on the amount that is sufficient to pay all the debts.

Endowment

There are different types of consolidation, but here is a donation is a life insurance that will pay your mortgage interest alone.

Equity

Equity is the amount of value in the house. This is the value of your home minus the amount left to repay the loan.

Equity Release

Equity Release is a means to liberate the cash value of yourat home or a lump sum or in monthly installments. This money for home improvements, debt consolidation, or other important expenses use.

Exchange of contracts

Exchange of contracts where a buyer and seller of a property and contract, which indicated the exchange of properties, effects on prices and conditions of the scheme. Once the contracts are signed, are legally binding, and the proceedings may be taken against anyone who violatescontract.

Existing liabilities

Existing commitments are all financial obligations beyond a mortgage. Current liabilities bank loan, credit card debt, child support, etc. include

First Time Buyers (FTB or FTP)

The first time buyer is someone who has never owned property before.

Fixed rate

A flat rate when you have a fixed amount of interest on a loan for a specified period. Lenders offer fixed rate loans for short periods(three to six months) all the way up to 25 years. Early redemption penalties apply if you repay the loan before the expiry of a fixed rate.

Flexibility Scheme

A flexible system is a new way to calculate the cost of mortgage interest. Credit institutions calculating interest on a daily basis instead of every year. The new rates will only affect the remainder of the loan. By making regular overpayments, you can repay the loan faster and thereforesave a lot of interest.

Survey

A tripod is a topic related to your property, and therefore is legally part of the property.

Freehold

Freehold means that the ownership of a property indefinitely. This is in contrast to leasehold, which means that the property is under your control for a limited period.

Further Advance

Further progress is an add-on loan to your existing loan from your currentloan. Money from a further advance for home improvements may be used to purchase a freehold, or for personal purposes like debt consolidation.

Borg

The surety is a person who allows the lender to the borrower may qualify for a loan or a mortgage. If the debtor fails to make payments, the deposit will connect.

Gazumping

Gazumping occurs when a seller agrees to sell goods to someone, and they come to fall, to offerin favor of a higher.

Rentals

Rents are the amount that a tenant must pay the landlord each year.

Home Buyer Report

A report of home buyers is a loan grantor made after an assessment is made and before the full study can be done to reduce the borrower a full understanding of its intention to purchase property.

Income Multiplier

A multiplier of income is a kind of calculation that a lender will use tocalculate a borrower can receive. The most common income multiplier is three times a single income or two and a half times joint income. The borrower choose the one that gives the higher figure. Lenders are more flexible than your LTV ratio is low.

Income Protection Insurance

With income, insurance, your monthly payments in the event of illness, accident or unemployment are not covered.

Brokerage

A broker is an agent that finds the bestmortgage for you, and also make sure your mortgage on your behalf.

Land Registry Fee

Registration to be paid when you want to register your ownership of a property, or if you want to change the registered proprietor of a property.

Rental agreement

In contrast to freehold, where property ownership, leasing is when a property is, but the land is built on the property to the tenant. Their control of the property only a certain numberyear.

Licensed conveyancer

A licensed conveyancer is a lawyer specializing in the procedures concerning the legal status of buying and selling property.

Joint Research

A survey of local authorities is conducted by lawyers for people who plan to buy your property. They make sure that there is planned development of the property, such as roads and buildings. Went to any building permit or enforcement notices are placed on yourproperty.

LTV

LTV or loan to value is the percentage derived from the breakdown of the value of your property the loan amount. A low LTV is less risky for creditors of 100% LTV.

Loan Consolidation

Lawyer, what happens when a loan is taken to pay a mortgage with an interest rate higher, or a series of high-interest debt to repay. Lawyer is often achieved through the activity of conversion.

ME

A MIG or Mortgageguarantee of compensation, are sure to find one to cover their lender if their property is recovered and the lender is unable to make their money back. A MIG is paid for the completion of a mortgage.

Mira

Mira, or subsidies of mortgage interest at source, it was a relief given to those with mortgages, but that exemption was abolished by the government in April 2000.

Mortgages

Loan is a loan that allows a person to buy a property. The property itself is collateral for the loan.

Noteholder

The mortgagee is a company or organization that finances your mortgage.

Pant Sets

The lender is the person making the loan for the purchase of a property.

MPPI

MPPI, or payment of insurance for guides, it is safe to take one in case of accident, illness or involuntary unemployment, which would allow them to have their monthly> Loan Payment.

MRP

MRP, or insurance reimbursement guides to be signed by the creditor protection in the course of your loan.

Negative equity

Negative equity occurs when the money owe your mortgage lender is higher than the value of your property. People find themselves in negative equity when they take 100% LTV Loans.

Charge

Over payment is when you pay the regular monthly paymentthe loan, so that the loan will be repaid by the end of the mortgage term. With the transfer, you can save on interest, but may also be charged a prepayment penalty.Payment Vacation Payment Holiday is a time when doing something debenture payments owner. It is normally available with flexible loans alone.

PEP

A PEP, or personal equity plan, you can create its own shares or mutual funds without paying taxes.

StaffRetirement

The pension staff able to provide for your financial needs after retirement. You can make payments for your structured retirement savings during working years. Often some of this money is taken to pay your mortgage burden.

Skills

The portability is a term for a loan between the property can be transferred when moving from one house to another.

Reimbursement

Redemption is when you pay your mortgagewhen structured, or when you switch to a new home.

Remittance Fee

The fee a borrower pays to send the amount of a loan to your lawyer.

Advanced

Mesothelioma is a loan from another lender or renegotiate a mortgage with your current lender to pay off existing loans. This is done to lower the interest rate you pay, or raise additional capital.

Repayment Mortgages

Mortgage repaymentwhen a portion of your monthly payment goes to interest and a second part of the payment directly to the principal. It 'also known as a capital and loans. If the payments are regular, the total amount of loans by the end of term will be refunded.

Retention

Retention is the amount your lender to await certain conditions of the loan are met.

Readmission

The return is a legal process that your promiseproperty is under the control of the provider because of inadequate reimbursement. Your property may be by public auction.

Right to buy

Right to buy, it means that they are legally able to purchase the property at a discount rate, if you are a tenant would have been for a sufficiently long period.

Keeping Fee

A fee is a fee for keeping the lender if your loan must be repaid.

Self-certification of income

Self-certification of income means that confirm how much you earn and the lender does not need proof of his income by a third. The application form is useful for self-employed or contract workers of people.

Shared Ownership

Shared ownership is a system developed by housing associations that require loan payments from a property you have, while you pay rent monthly payments by the ownership of the property to make> Society.

Lawyers

Lawyers are the persons who provide legal advice and to conduct all the legal work for the mortgage market and structured transactions.Stamp Duty Stamp Duty is paid the tax to the government for the purchase of a property.

SVR

The SVR, or a standard variable rate is the base rate of the lender. May be amended at any time, depending on the creditor. The SVR will be the Bank of England base rate is based swings.

SBS

Astructural study is the detailed investigation of a property made by a professional surveyor.

Tenure

Possession, the nature of the rights of a person who more than a building or land is located on. Assignment was freehold or leasehold, for example.

Deadline

The period during which the number of years that you want to pay the bond.

Tie-in period

A tie-in is a period of time for which you are bound to a lender man. Tie-in periodOften there is special treatment, like the roof or fixed prices. If you move your mortgage to another lender during this period, it is subject to a prepayment fee.

Owner Proof

A title deed is a legal document which confirms that the ownership of your property. An act to show your true and lawful right to your property.

Transfer Deed

An act of transfer is an act of lawful use for the transfer of ownership to acopper.

Unhindered

Free expression means you own your property directly, without deposits and loans against it.

Assessment

A property valuation is a survey of a property made by a qualified inspector to assess the value of the property. It takes place on behalf of his sponsor, so they are able to confirm that the value of your property.

Floating rate

A variable rate means your interest rate can vary from month to monthcausing the monthly payment to move.

Provider

A seller is the person from whom you purchase a property.