Mortgage Glossary

Build up your knowledge by using our mortgage glossary, here to help you understand the sometimes confusing terms used to describe mortgages and other financial related products.  We have laid out our glossary in an easy to use A-Z Format. If you have any additions you would like to see, please feel free to contact us with your ideas. If you are looking for personal finance like credit cards or loans, please visit cricket finance

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z |  


A type of long term bond (loan), taken out by a company, which it agrees to repay at a specified future date. The company will usually pay a fixed rate of interest to debenture holders each year until (More)
debt refinancing
The raising of new money by a company in order to pay off existing debt. This is something that borrowers do all the time, and it does not signify trouble. Debt restructuring is a more fundament (More)
A person or company owing money to another person or company. A company is therefore owed money by its debtors and the people it owes money to are its creditors.
A document, which legally transfers ownership of property from one party to another, most commonly related to real property.
Failure by a debtor to meet the terms of a loan either by not paying interest due or not repaying the capital due.
Amounts that the solicitor has to pay out on behalf of the client in connection with the transaction, e.g. local authority searches, land registry fees, etc.
discharged bankruptcy
Usually a person will remain bankrupt for 3 years, after which they will be discharged from bankruptcy and can once again borrow money, although many discharged bankrupts will have trouble obtaini (More)
discounted rate
This is a discount from the standard variable rate for a set length of time.
dutch auction
Named after the Dutch tulip auctions, this form of auction is one where the auctioneer starts with a high asking price , which is then lowered until a bidder accepts the auctioneers price. This is a q (More)









The overall cost for comparison is 10.53% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. Early repayment charges apply. A broker fee of 1% may apply.  Your home may be repossessed if you do not keep up repayments on your mortgage.Our Financial Resources directory is available here