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The mortgage loan.
The total charge for the loan including fees and interest expressed as a percentage.
The rate used to calculate the interest due.
Mortgage payments which have not been paid as requested and have become overdue.
The Bank of England 'repurchase' or 'repo' rate which is the main factor influencing interest rates charged by lenders.
Needed from exchange of contract to cover your house.
The amount you owe excluding costs and interest outstanding.
Stands for Charges, Access and Terms - which have to be low, easy and fair respectively. These standards were introduced by the Government for mortgages to help borrowers, especially first-time buyers.
A charge made by the lender to cover administration costs when a mortgage is repaid.
The property which the lender can sell to repay the loan if the borrower does not keep up the mortgage payments.
1. The final legal transfer of ownership of the property - when the property becomes yours.
2. The start of the mortgage (also known as 'drawdown').
Cover for all your personal belongings
The written agreement between the seller and the buyer of a property to transfer ownership.
The seller has received two or more offers on the property and will sell to whoever is ready to exchange contracts first.
Solicitor or licensed conveyancer who deals with the legal aspects of buying or selling land.
The legal work involved in the sale and purchase of land.
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