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
| gap insurance |
| GAP Insurance- Guaranteed Asset Protection Insurance. If a car you are buying on finance is written off in an accident, your insurance may cover the cost of the car itself, but not the interest and ch (More) |
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| gift |
| A transfer of an asset such as property or money etc from one person to another where no payment of any kind is given by the receiving person to the donor. Transfers of this kind may be subject to inh (More) |
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| good faith deposit |
| A deposit made by a purchaser of real estate to evidence an honesty.
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| goodwill |
| The value of a business to a purchaser over and above its net asset value. It reflects the value of intangible assets like:
reputation
brand name
good customer relations
high employee morale
an (More) |
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| ground rent |
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An annual sum paid by the leaseholder to the freeholder as a rental amount for the ground on which the property stands, which the freeholder actually owns.
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| guarantor |
| A person who commits to guarantee the debts of another. For example if an individual fails to meet his/her obligations on say hire purchase repayments, the guarantor will be obliged to make those repa (More) |
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