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 |  

 

telegraphic transfer fee
(Also known as Remittance Fee). This is charged for sending sums of money electronically
 
term
A period in years. Eg. A mortgage term, the length (in years) of the mortgage.
 
title
The right to ownership of land.
 
title deeds
The documents which prove the title. These may be in the form of conveyances or may be an extract of the records held at H.M. Land Registry.
 
tracker mortgage
This kind of mortage has an interest rate which follows the Bank of Englandís base rate. This means that your monthly repayments go up when the base rate goes up, and go down when the base rate goes d (More)
 
transfer
The document that transfers the land where the title is registered
 
transfer of equity
The process of adding or removing a party from a mortgage.
 

 

 

 

 

 

 

 

 

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