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
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| telegraphic transfer fee |
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(Also known as Remittance Fee). This is charged for sending sums of money electronically
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| term |
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A period in years. Eg. A mortgage term, the length (in years) of the mortgage.
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| title |
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The right to ownership of land.
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| title deeds |
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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.
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| tracker mortgage |
| This kind of mortage has an interest rate which follows the Bank of England’s 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) |
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| transfer |
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The document that transfers the land where the title is registered
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| transfer of equity |
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The process of adding or removing a party from a mortgage.
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