Glossary of Mortgage Terms

Additional security costs

Additional costs of security (mortgage indemnity guarantee policy) is made, the price. Ensuring that your lender will receive, so that if you default on the payment, it does not damage you must pay additional security and the premium with your mortgage advance. Although the payment of the premium, remember that policies to protect your lender, not for you.

Management fees

The management fee is the amount charged by your lender to work on the documentation for your mortgage application. It includes the assessment fee home as well. Administration fees are not refundable, even if your examination does not, or if your application has been rejected.

Adverse credit

Adverse credit occurs when you have a history of bad credit, bankruptcy, CCJ, arrears or loans. Adverse credit is as bad credit, bad credit are available, or you can say that you have a low credit score.

Restriction agricultural

An agricultural restriction is a rule that will be performed on a single bound, if your job is in any way related to agriculture.


The annual rate is the rate at which you borrow money lenders. It includes all initial costs and ongoing costs that you pay over the life of the mortgage. As its name suggests, is the annual percentage rate or APR, cited the cost of a mortgage loan at an annual rate. The APR is a good way to compare offers from different lenders on the annual cost for each loan.


Division or partial division, is a means by which you can be responsible for utilities, property taxes, etc. with the buyer or the seller of the property when you buy or sell share ownership.


Arrears occur when you. Default on your mortgage payments or any other type of debt payment If you have arrears on the back of your current mortgage, you are faced with problems if you look at mortgage refinancing or a new mortgage needs.

Arrangement fees

Processing fee is the amount you owe your lender to access particular mortgage deals. Search fixed interest rate, cash back or lower interest rate, you are as fresh as when you pay your application, it needs the loan to the end of the period to be added, otherwise it will be deducted from loan completion.


An assignment is the document that the transfer of ownership or rental property by a seller to a buyer. This may be an endowment policy to the building society in the context of a mortgage.


ASU accident, sickness and unemployment insurance, which covers your mortgage payments in case of accident, sickness or involuntary unemployment.


An auction is a public sale of the property to the person who quotes the highest bid. The winning bidder must be a contract he signed, ensuring all assessments, research, etc. to do before selling the property.

Authority check register

Power to inspect the register is a document established statutory or legal owner of a property so that the buyer’s lawyer to obtain information on the property.

Bank draft

A bank is a way to make a payment. In appearance, it is the same as a check, but in fact it is a cash payment. The money will be given to the bank, and they. A check that has certified to be good for the amount specified

Base rate tracker

Base rate tracker is a type of mortgage in which the interest rate is variable, but it is at a premium (above), the Bank of England base rate for a period of time or for the entire term of the mortgage. The best part of this type of mortgage is that a prepayment penalty or very little. This means that, by overpayments, you will be able to save money on the interests of your mortgage contract earlier than the date agreed in the contract first mortgage.

Booking fees

Booking fees or fees are charged when. Apply for a loan fixed or capped Booking fees are generally not refundable if charged in advance, but sometimes the fee will be added to your final mortgage payment.

Bridge loan

A bridging loan is useful when you want to buy a property, but your ability to do so depends on the sale of the old property. It is a very short term loan, which is turned off when you sold your old property paid. Talk to a loan officer before taking a bridge loan to be sure this is the best option for you.

Agency fees

A brokerage commission is for. Your debt counselor or other intermediary that pays you to find the best mortgage or loan product for your situation BSAThe BSA or the Building Societies Association, a group that works in the interests of member clubs.

Companies Commission building

The Peacebuilding Commission is a corporate regulator construction companies. The reports of the Commission to Treasury Ministers.

Construction company

Building Society is a mutual organization that gives you money to purchase or remortgage residential properties. This money comes from private investors, the interest on their funds are disbursed. Part funds the construction company has also increased through commercial money markets.


When you purchase a property for the sole purpose of renting, you can opt for a buy-to-let mortgages. Payments for this type of mortgage can be calculated based on your expected rental income instead of your personal income.

Principal and interest

Your monthly mortgage payment consist of two parts: interest and principal. The interest payment on the balance of interest on your loan. Capital is a payment on the amount you borrowed.

Raising capital

Raising capital for mortgage refinancing usually means a higher amount than you. To pay off your existing mortgage in order to use the excess money for other personal financial applications

Capped rate

A capped rate is an interest rate that is not on the standard variable interest rate for a specified period (1-5 years), which will be decided by you and your lender. If the standard variable rate is below your capped rate will reduce your interest rate accordingly.


Money is the amount you get when you take out a mortgage, may determine the amount or a percentage of the amount of your mortgage.


CCJ stands for judgment of the Court in the county. It is a decision of a district court to reach you if your debts are paid down. If you clear the debt in question is defined in a period, a satisfactory score will be placed on your credit report that the debt is supported.

Centralized lenders

A key lender is a lender who does not rely on a branch network for distribution. Centralized loan is now questioned by some construction companies are available. These companies operate separately from their branch networks, and they rely exclusively on mortgages from intermediary sources.


An expense is interest on a mortgage on which a condominium or rental may occur.

Load Certificate

A certificate is a certificate that load. By HM Land Registry issued with your name as the title registered for a specific property This certificate contains details of restrictions, mortgages and other interests. It has three parts: a fee save, save property, and save a sole proprietorship. If there is no mortgage on the property, it is called a land certificate and it is issued to the registered owner.


The furniture is of personal property in your home, such as furniture or your personal chef possessions.Chief rent The rent is paid by the owner of a property. This is the same as the ground rent is paid by a tenant.


Council of Mortgage Lenders


Completion is a term that you are the owner of the house said the formalities for the sale and purchase of the property.

Conditional Insurance

If you can get a fixed interest rate or discount convince your lender, take insurance, no missed payments due to illness, accident or unemployment cover.


A contract is a legally binding contract of sale. There are two identical copies signed by the buyer and the seller, and each party shall retain a copy for their records. Once both parties have signed the contract, they are required under the agreement.


A transfer is the act by which a condominium transfer of unregistered securities. The act is called an assignment, if your property is registered or lease. If the property is registered, the deed is called a transfer.


Conveyancing is the legal process, rather than to the purchase and sale of a property.


A covenant is an assurance in a given credit rating deed.Credit scoring is the process by which a lender evaluates your ability to pay before offering a loan or mortgage.

Credit research

A credit search is carried out by a lender and a credit bureau for your records for CCJs and other indicators of poor credit research.

Debt Consolidation

Debt consolidation is the process by which you take out a loan or a mortgage a number of high-interest debt. In this way, you need only one payment per month, and you will clearly save interest.


A deed is a legal document that identifies the owner of a property. You can transfer a song two condominiums and accessories with a certificate.


A down payment is the amount of money that you make the purchase of a property.


Payments are amounts you pay, etc. to lawyers against registration fees, searches, faxes


Low prices are used for new borrowers, lenders, winning the lower interest rate to standard variable rate for a guaranteed period. If you repay the mortgage at a reduced rate in all years, your lender will impose prepayment penalties.

Prepayment penalty

A prepayment penalty from your lender charged when you partial or full payment of the amount of your mortgage before the end of your mortgage term to do. These penalties will be charged if you move your mortgage and remortgage to a new lender to decide. Prepayment penalty applies primarily to fixed rate, the discount rate and cash-back mortgages.


The easement is the right of an owner rather than land use another for a limited purpose, such as to a right of passage.

Endowment mortgage

A mortgage is an endowment interest only mortgage supported by an endowment policy. During the term of the mortgage, you pay interest to the lender, and your premiums are paid alternately in an endowment fund that will be payable during the term of your mortgage. The endowment policy is designed to pay off your mortgage and the law of life. However, you can not this amount is not enough to pay all your debts.


There are different types of trusts, but here is a foundation life insurance policy that pays your interest only mortgage.


Equity is the amount of your home. This is the value of your home minus the amount outstanding on your mortgage.

Equity Release

Life is a way of releasing money from the value of your home, or in a lump sum or monthly payments. This money can be used for home improvement, debt consolidation, or other major expenses.

Exchange contracts

Exchange of contracts occurs when the buyer and seller of a property sign and swap contracts that detail the property, the price, date and terms of the agreement. If the contracts are signed, they are legally binding, and legal action against anyone who breaks the contract will be taken.

Existing passive

Existing debts are all financial obligations to the outside of your mortgage. Existing debt may include bank loans, credit card debt, alimony, etc.

First time buyers (FTB or FTP)

A first time buyer is someone who has never been owned before possession.

Fixed rate

A fixed rate mortgage, you pay a fixed amount of interest on a loan for a certain period. Lenders offer loans at fixed interest rates for short periods (3-6 months) all the way up to 25 years. Prepayment penalty applies if you pay off the mortgage before the end of the fixed rate period.

Flexible system

A flexible system is a new method of calculating mortgage interest costs. Lenders charge interest on a daily basis rather than on an annual basis. The new rates apply only to the balance of the mortgage. By making regular payments, you can use the loan faster and saves a lot of interest.


A lamp equipped with a member. For your sake, and it is legally part of the property


Freehold means that you ownership of a property for an indefinite period have. This is in contrast to lease which means that the property is under your control for a limited period.

Continue to drive

A new advance loan is complementary to your existing mortgage your current lender. The money a further advance can be used for home improvements, buy a property or for personal purposes such as debt consolidation.


A guarantor is a person who is the lender that the borrower is eligible for a loan or mortgage guarantees. If the borrower fails to make payments to the guarantor.


Gazumping occurs when a seller agrees to sell a property to a person, and they go to the offer in favor of a higher decrease.

The rent

The rent is the amount the tenant must pay the landlord each year.

Home Report

A report will be made by a buyer mortgage lender after an assessment has been done before and thorough investigation conducted by the borrower to a complete understanding of the property they are considering buying.

Income multipliers

Income multiplier is a type of calculation that lenders use to calculate receive the amount that the borrower can. The income multiplier is the most common three times a single income or two and a half times joint income. The lender will choose the highest number is the result. Lenders are more flexible if your LTV is low.

Income Protection Insurance

Income protection insurance with your monthly payments in case of sickness, accident or unemployment will be covered.


A broker is an agent that finds the best mortgage for you, and they also hold the mortgage for you on your behalf.

Registration fees for land

Cadastral tax paid if your ownership of an asset, or if you want to subscribe to edit the recorded title to a property.


Unlike condominiums, where a property is one of the leases is when property owned, but the land on which it is built is not owned by the tenant. Control over the property is for a number of years.

Licensed conveyancer

A notary is licensed as a lawyer, they specialize in the legal aspects of buying and selling real estate.

Search local authority

A local search will be made by the lawyer for those who plan to buy your property. They check to make sure there are no planned developments on the property, such as roads or buildings. They will check for building permits or enforcement notices displayed on your property.


LTV or loan to value, the percentage obtained by dividing the value of your property by the amount of your mortgage. A low LTV is much less risky for lenders to 100% LTV.

Loan Consolidation

Loan consolidation happens when a loan is repaid another loan with a higher interest rate or a series of high interest rates made to repay debts. Consolidation loan is often performed by mortgage refinancing.


MIG a guarantee or mortgage insurance is to their lender to cover the case where their property taken possession again, and the lender is not able to recover their money. A MIG is payable at the end of a mortgage.


MIRAS mortgage interest exemption at source, received a tax break that was mortgaged, but the relief abolished by the government in April 2000.


A mortgage is a loan that someone can buy a property. The hotel itself is the collateral for the loan.


The mortgagee of the company or organization that funds your mortgage.


The mortgagor is the person who buys the mortgage for a property.


MPPI, insurance or mortgage payment protection is that you take out insurance in case of accident, sickness or involuntary unemployment, which renders them incapable of their monthly mortgage payment would be.


MRP, or mortgage protection insurance reimbursement is made by your lender during the term of your loan.

Negative equity

Negative equity occurs when the money you owe your lender more than the value of your property. People find themselves in situations where negative actions they take 100% LTV mortgage.


Overpayment happens when you pay more than the regular monthly payment of your mortgage so that the mortgage before the end of the mortgage term is repaid. By overpayments, you can save money on interest, but you can also prepay payment holiday penalty.Payment HolidayA is charged, a period during which you pay no mortgagee. It is generally flexible mortgages only.


A PEP, or personal equity plan, you can own stocks or mutual funds without taxes.

Personal Pension

A private pension provides for your financial needs in retirement. They are structured payments in your retirement years in your life. Often, something may be out of money to pay off your mortgage.


Portability is a term used for a mortgage that can be transferred between properties when you describe to move from one house to another.


Redemption is when you pay your mortgage if you remortgage, or if you move to a new home.

Repair costs

A referral fee is charged by a lender to send the amount of a mortgage on your lawyer.


A remortgage is to pay a loan from a lender or a new loan with your current lender, you put your current mortgage renegotiated. This is done to reduce the interest rate you pay, or raise additional capital.

Repayment mortgages

A repayment mortgage is when a portion of your monthly payment goes to interest and another part of the payment is principal. This is also known as a capital and interest mortgage. If payments are made regularly, the entire amount of the loan will be repaid at the end of the term.


Retention is the amount that your lender keeps pending until certain conditions are met on your mortgage.


Redemption is a legal process by which you have your mortgaged property under the control of your lender with the incomplete recovery. Your property can then be sold at public auction.

Right to Buy

Right to buy means that you are legally able to acquire the property at a reduced price if you have a tenant for long time.

Fresh seal

Fee is charged sealing amount from your lender if you pay off your mortgage.

The self-certification of income

The self-certification of income means that you acknowledge that you win, and the lender. Not require proof of income from a third party self-certification is helpful for self-employed or contract workers.


Shared ownership is a scheme of construction companies with whom you have developed mortgage payments from a property you own, but also requires to pay the monthly rent on the portion of the property owned by the construction company .


Those lawyers, legal advice and do all the work and are legal mortgage remortgage Stamp duty is a tax transactions.Stamp government for the purchase of a property.


The SVR, or standard variable rate is the base rate of the lender. It is submitted at any time depending on the lender to change. SVR will fluctuate according to the Bank of England base rate.

Structure Survey

A structural survey of a property is the thorough inspection by a professional appraiser.


Tenure is the type of rights a person has a property or land is located. Tenure could condominium or rental, for example.


The duration of a mortgage is the number of years you intend to repay your mortgage.

Tie-in period

A tie-in time is a time during which you are bound to a lender. Tie-in periods often exist with special mortgage deals as fixed, capped rate or at a discount. If you move your mortgage to another lender during this time, you are subject to early redemption fee.

The title

A deed is a legal document that verifies the ownership of your property. A certificate attesting to your actual request and legal for your property.

Transfer Act

An assignment is a legal document for the transfer of property used in your property to a buyer.


The term refers unencumbered you. Your own property mortgages or loans against it hardly


A real estate appraisal is a survey of property by a qualified expert performed to assess the value of the property. This method of evaluation is made on behalf of your lender so that they are able to confirm the value of your property.

Floating rate

A variable rate means that your interest rate can change from one month to fluctuate your monthly payments.


A supplier is the person you are buying a property.

If you want to help, the best mortgage or remortgage deal for you, take a moment to complete this simple questionnaire. Once you do this, simply finance a representative will contact you to a mortgage broker, research the best mortgage offer to introduce yourself.

Home Organizing Tips to Show Your Personality

Houses can describe the personality of its owner. But showing the personal side of the house through the arrangement also requires several steps.

If you want the guests who come to instantly recognize your personality, the way is not difficult. Simply show a part of yourself with the simple details in the room. Still confused how? These tips, as quoted from She Knows.

1. Words, Numbers & Letters
If you want the house show your personal style, then spell the words. Use words and letters as works of art, decoration or accessory in the home. You can use the printed sheets monogrammed with the initial letters of your name. Select also a towel or mug pictorial initial letters of a name with a large font size. You can put it in the dish rack, or as a display cabinet.
It could also make beautiful art with writing the lyrics of your favorite song on the ceramic or paper, framed and display in the living room or bedroom. Like the quote from the artist or idol? Why do not you write on vinyl and paste it on the wall. In this way, the guests who come to the house so instantly know your preferences.
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Panasonic Offer More Value in Lumix GX1

Lately, pocket camera again rocked the competition in the market. Brunt small size camera with lens features that can be changed (or familiarly called CSC, Compact System Camera) seem unbearable as more vendors are trying their luck in this type of product. Now as one of the pioneers of CSC, Panasonic did not remain silent and the latest launches, named Panasonic Lumix GX1.

What are the advantages of Panasonic Lumix GX1 camera? Here is a review that quotes from Yahoo!.


If you follow or even have a camera MFT (Micro Four Thirds) from Panasonic GF series before, like the GF1, GF2 or GF3, the GX1 GF1 arguably closer in terms of design.

Lumix GF3 is designed as a small MFT camera and practically incorporated into a handbag, but the GX1 is slightly different. The economic factor is very highlighted here and given also increased quite a lot. Impact, GX1 size larger than the GF3 but also more comfortable grip. The quality of design is also very good, even the best for the camera size. Continue reading “Panasonic Offer More Value in Lumix GX1”

Tips Decorate Home with Flowers series for Christmas Greet

Almost everyone has a hobby of singing though that ‘could’ sing only a small part. With singing we can spill all the emotion in his tone. Can not it be like if we just listen to the music just as we desire to sing. He wanted to take part in the beat of the music and get to work.

However, it still belongs to the most narcissistic people. To shed singing sensation and reach that we can not at will. See first place, can not be in the classroom, in the market or in the boardroom we suddenly singing expresive possible. Well you know? Suspected mental illness later. The only way to find a safe. So it was a lot of the term ‘bathroom singer’. The singer, who is not a singer but always wanted to sing just to shed emotion in the tone.

Did you know? Singing in the shower turns profitable too. By singing to keep the muscles in the larynx and steam lubricate at the ballot box. At least be a good exercise for your voice.

Singing in the shower can lead to negative things. If you took a shower and singing, the people who are outside the bathroom or around it will probably think you’re doing inside. And thought it was a very wild plus you suddenly stopped singing and the sound of the water spray will be more perish who heard from outside.
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7 Easy Ways to Change Home Decoration Day Only

Structuring the same from year to year can make you and your family members get bored. The bustle and busy schedule of activities each day, often an excuse to not have time to give a refresher on home decorating.

But if you want to spend a day just to redecorate, will give a significant difference in the overall look of the home. No need to buy a set of new furniture, repaint or replace curtains that takes a long time and cost are also not small.

If you have limited budget and time, simply subtract and add specific parts only. Slightest change, can give a fresh new look to the room. Peek way to redecorate your house, with six simple tips reported by She Knows this.

1. Replace One or two are Already Obsolete Furniture
You do not need to buy a set of new furniture to give a new feel to the room. Simply replace any worn out furniture that start with the new. For example, if a table in the living room already looks fragile due to many years of use, replace it with a small table or a vintage-style edgy. One small furniture, you do not have to make big to pocket. Find info furniture store that was having a discount via the Internet or come to the garage sale. Continue reading “7 Easy Ways to Change Home Decoration Day Only”

JK Rowling Build High Club Read

Author JK Rowling on Tuesday (Wednesday GMT) launch a virtual book club for young readers, and promised to appear on live video in October of Edinburgh, Scotland, to dialogue with fans about the Wizarding World of Harry Potter.

Publishers United States (U.S.) for Rowling, Scholastic, who built the club’s website read Harry Potter, said that the club is for fans of British witch, and a tool for parents or teachers who want to create a book club, to introduce the pleasure of reading in children.

“Scholastic has been in talks with educators, librarians and other book lovers about the idea of introducing Harry Potter books to new readers in a way that is interesting and different,” said Ellie Berger, President of Scholastic Trade, in a statement at the launch of the club .

He replied, “Reading Harry Potter Club is a direct answer to that input and provide clues about the features of this book that can be shared with a new generation of Harry Potter fans, whether inside or outside the classroom.”
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How to Quickly Clean Home While Family Gather in New Year holidays

The holiday season, most people choose to spend time casually for traveling out of town or overseas. But there are some who prefer to stay at home and invite relatives to gather.

For those of you who prefer a family gathering to welcome the new year, which is certainly important to be prepared a clean and comfortable. In addition to using the usual cleaning fluid bought at the supermarket, you can use the materials and household kitchens that are already in the house. In addition to the maximum result, these cleaning materials also make your clean-up easier.

1. Lemon Essential Oil
Lemon is a suitable cleaning materials to clean as well as care for furniture made of wood. Pour a little oil into the lemon cleaning wipes, and use it to remove dust-dust on shelves, chairs, ornaments, picture frames or wooden floors. In addition, lemon oil is also suitable for cleaning tools made of stainless steel quickly. Same way, by rubbing dry cloth equipment that has been given oil. This method is a solution when you want to make the house clean and fragrant in a short time.
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Fifty Shades of Grey Vs Harry Potter

JK Rowling magic to readers in the UK seems to fade along with the success of erotic novel, Fifty Shades of Grey, Wednesday, exceeding the amount of the sale of seven novel series Harry Potter at

The success that makes the author of Fifty Shades of Grey, EL James, a best-selling author of that page.

The novel is widely dubbed “porn book for mothers” and sold more than 4 million books in the world rated bestseller. Millions of the novel have been sold, for both print and on the Kindle edition on site since March 2012.

Adult novel that also broke the record in the UK in June when a paperback most quickly reached sales of one million copies. Fifty Shades of Grey only takes 11 weeks to sell 1 million books.

Rights filming of the trilogy that has purchased Universal and Focus Features, according to U.S. media reports in March. Stories in Fifty Shades of Grey will continue in Shades Darker Fifty and Fifty Shades Freed novel trilogy that will complement it.
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Research: Women Spend Average 2 Year Her life to Clean House

How often do you clean your house every day? What are the parts of the house cleaned? Recent research suggests the average woman spends two years of his life to clean the house affairs.

According to a survey conducted a toilet freshener products in the UK, Bloo Flowers, the average woman spends 50 minutes to make sure their homes are clean and smell good every day. If calculated from the age of 18, meaning that women spend 324 hours or almost two weeks each year or if altogether two years and four months of his life.

The time spent to clean the house she can be exposed when the holiday like Eid and Christmas. 66% of respondents surveyed said they need an average of three hours, 28 minutes.

The survey was made by involving 2,000 women. 70% of women in the survey describe themselves as the kind of person who takes pride if the house is clean and fragrant. 86% of women also claim to be willing to spend more time to tidy and clean the house if there are guests who come.
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Smart Select Type Dog As Pets

You are interested in having a pet dog? Before determining the type of dog, many things must be considered and taken into account. Make careful planning when buying a dog.

Do not let you bring home a puppy that small and friendly but once you are planning to buy a big guard dog houses and aggressive. And the average age of dogs between 12-15 years requiring long-term commitment.

Some things should be taken into consider in choosing a pet dog types are:

Adjust the size of the dog with a home

Note the size of your home in choosing the type of dog that will be maintained. If the house is large enough and the yard no problem selecting a large dog because dogs need enough room to move around.

But if you do not have a large house but still want to maintain a large breed dog, you have to sacrifice time and energy for your big dog walk outside the house.
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