Glossary of Mortgage Terms
Introduction
Below you will find a useful glossary of common mortgage terms
- Accident, Sickness & Unemployment Insurance (ASU)
- Accidental Damage Cover
- Administration Fee
- Advance
- Adverse Credit
- Agricultural Restriction
- Annual Percentage Rate (APR)
- Applicant(s)
- Arrangement Fee
- Assignment
- ASR
- ASU
- Base Rate
- Basic Income
- Booking Fee
- Broker (Finance)
- Broker Fee
- Buildings Survey
- Buildings and Contents Insurance
- Buildings Insurance
- Buy-to-Let Mortgage
- CAP
- Cap and Collar Mortgage
- Capital and Interest Mortgage
- Capital Raising
- Capped Rate
- Capped Rate Mortgage
- Cash Back
- CAT Mark
- CAT Mortgage
- CAT Standard
- CHAPS
- CHAPS Fee
- Commission
- Completion
- Completion Fee
- Compulsory Insurance
- Conclusion of Missives
- Conditional Insurance
- Contents Insurance
- Converted Flat
- Conveyancing
- County Court Judgement (CCJ)
- Credit Check
- Credit Reference Agency
- Credit Report
- Credit Search
- Current Account Mortgage
- Debt
- Debt Consolidation
- Deposit
- Disbursements
- Discounted Rate
- Discounted Period
- Draw Down Facility
- Early Redemption Penalty
- Endowment Policy
- Endowment Mortgage
- Equity
- Estate Agency Fees
- Exchange of Contracts (Not Scotland)
- Existing Liabilities
- Feuhold (Scotland)
- First Charge
- First Time Buyer (FTB)
- Fixed Rate Mortgage
- Fixtures
- Flexible Drawdown
- Flexible Mortgage
- Foreign Currency Mortgage
- Freehold (Not Scotland)
- Freeholder
- Full Status - Mortgage
- Full Structural Survey
- Further Advance
- Gross Annual Income
- Ground Rent
- Guarantor
- High Loan To Value Fee
- High Percentage Loan Fee
- Home Buyer's Report
- Home Buyer's Valuation Fee
- IFA
- Illustration
- Impaired Credit
- Income
- Income Multiplier
- Income Reference
- Independent Financial Adviser (IFA)
- Index Tracker
- Individual Savings Account (ISA) Mortgage
- Insurance Guarantee Premium
- Interest Only Mortgage
- Investment Home Loan (IHL)
- Joint Income
- Land Registry Fee
- Landlord's Reference
- Leasehold Property (not Scotland)
- Leaseholder
- Legal Charge
- Legal Fee
- Legal Completion
- Lender
- Lender's Fee
- LIBOR-Linked Mortgage
- Licensed Conveyancer
- Life Insurance
- Loan Consolidation
- Loan to Value (LTV)
- LTV
- MGI
- MIG
- MIP
- Mortgage
- Mortgagee
- Mortgage Code Arbitration Scheme
- Mortgage Deed
- Mortgage Indemnity Guarantee
- Mortgage Subsidy
- Mortgage Term
- Mortgage Valuation
- Mortgage Quotation
- Mortgagor(s)
- Multiplier (Income)
- Negative Equity
- Net Profit
- New-Build
- Non-Status Mortgage
- Offer Letter
- Other Income
- Other Outgoings
- Outstanding
- Overpayments
- Part and Part Mortgage
- Payment Holiday
- Payment Protection Insurance
- Penalties
- Pension Mortgage
- Percentage Advance
- Portable
- Previous Lender's Reference
- Principal
- Principal and Interest Mortgage
- Quotation
- Rate
- Rate Cap
- Redemption
- Redemption Amount
- Redemption Charges
- Redemption Penalty
- Remortgaging
- Repayment Method
- Repayment Mortgage
- Repayment Period
- Residential Investment
- Retention
- Right-To-Buy
- Second Charge
- Searches
- Self-Build Mortgage
- Self-Certification
- Settlement
- Stamp Duty
- Standard Construction
- Standard Variable Rate
- Stepped Rate Mortgage
- Structural Survey
- Survey
- Survey Fee
- Surveyor
- Tie-in Period
- Term
- Tracker
- Underpayment
- Valuation
- Valuation Fee
- Valuation Report
- Value
- Variable Rate Mortgage
- Vendor
Accident, Sickness & Unemployment Insurance (ASU)
Insurance which pays all or a percentage of your monthly mortgage payment if you cannot work due to an accident, sickness or redundancy. Also known as Payment/Income Protection Insurance, Accident, Sickness and Redundancy Insurance (ASR) or Mortgage Repayment Protection (MRP) or Mortgage Payment Protection Insurance (MPPI).
Accidental Damage Cover
Extra insurance on your buildings and/or contents insurance policy to cover you against accidental damage to the structure of your property and/or its contents.
Administration Fee
A fee paid to the lender to cover the costs of processing the application. May also include the Valuation Fee.
Adverse Credit
The term applied to someone with a poor credit history owing to late mortgage, rent or credit payments, County Court Judgements (CCJs) or bankruptcy.
Annual Percentage Rate (APR)
An interest rate quoted by lenders to help compare the true cost of different mortgages. The APR takes into account all fees and charges applied to the mortgage as well as the monthly payments over the life of the loan.
Applicant(s)
The individual or individuals who apply for a mortgage and whose name(s) will appear on the mortgage documents.
Arrangement Fee
A fee to cover administration, usually for arranging special rate mortgages. Other names include Application Fee, Booking Fee, Reservation Fee.
Assignment
The term used when the ownership of a policy (for example, an Endowment or Personal Pension Plan) is legally transferred. In the case of mortgages, the ownership of a policy is usually transferred to a lender to ensure that the proceeds of the policy are used to redeem the loan.
ASR
See Accident Sickness and Unemployment Insurance.
ASU
See Accident Sickness and Unemployment Insurance.
Base Rate
The interest rate from which lenders set their rates for lending and savings products. It is usually based on the Base Rate set by the Bank of England.
Basic Income
Gross salary before taxes, excluding overtime, bonuses, commission etc.
Booking Fee
A fee to guarantee that a special rate will be available, provided that the mortgage application is received by a given date. Also called a Reservation Fee.
Broker (Finance)
A person who advises on and/or facilitates the purchase of a financial product.
Broker Fee
A fee charged by a broker or financial adviser for advising and/or facilitating the purchase of a financial product.
Buildings Survey
Buildings and Contents Insurance
Combined insurance covering both the structure of the property, and its contents.
Buildings Insurance
Insurance that protects against loss or damage to the main structure of the property, also to fixtures and fittings, perimeter fences/walls and outbuildings
Buy-to-Let Mortgage
A mortgage designed for those wanting to buy a property with the intention of letting it to others
CAP
The ceiling in a Capped-Rate Mortgage above which the interest rate cannot increase.
Cap and Collar Mortgage
A mortgage with a set maximum and minimum interest rate over a given period. The Cap defines the maximum rate and the Collar the minimum rate. The interest rate can fluctuate between these rates for the period of the product.
Capital and Interest Mortgage
Capital Raising
A term normally used for remortgaging (changing lenders) where additional funds are raised over and above the existing mortgage amount for non-specific purposes.
Capped Rate
An interest rate that is guaranteed not to rise over a given period, but which can fall during that period.
Capped Rate Mortgage
A mortgage where the interest rate is guaranteed not to rise above a maximum level over a given period, but which can fall during that period. See also Cap and Collar Mortgage.
Cash Back
A sum of money paid to the borrower when a 'Cash Back Mortgage' completes. It may be a fixed amount, or a percentage of the mortgage.
CAT Mark
A symbol indicating that a financial product meets the government CAT Standard.
CAT Mortgage
A mortgage that meets the government's benchmark standard for offering a clear and fair deal. CAT mortgage minimum conditions include: interest calculated daily; no separate charge for mortgage indemnity guarantee; all additional fees disclosed up front; no compulsory insurance linked; no early repayment penalties on variable rate mortgages; variable rate mortgages not to be charged at more than 2% over base rate; early repayment penalties on fixed and capped rate mortgages to be stated in cash terms and kept low; no redemption charge after the fixed or capped period has ended; the mortgage can be kept when moving home provided the lender is happy to lend on the new property.
If a particular mortgage product does not meet the CAT standard, this does not necessarily mean that it is a poor product. It may be designed for certain people with particular requirements. However, the absence of the CAT mark should prompt borrowers to consider why a particular product's terms differ from the standard, and then to decide if these terms are suitable for them.
CAT Standard
A government benchmark standard for financial products, setting minimum conditions for Charges, Access, and Terms - designed to enable consumers to identify products that offer a clear and fair deal. Products that meet the conditions can display the CAT mark. The CAT Standard for mortgages was launched in April 2000. See also CAT Mortgage above.
CHAPS
Clearing House Automated Payment System. The system which enables money to be transferred from one bank account to another on the same day.
CHAPS Fee
The fee lenders and solicitors charge for the same day transfer of funds, usually to complete a mortgage.
Commission
The fee paid by a lender to a broker for introducing business to that lender.
Completion
The date (normally agreed at Exchange of Contracts) when the buyer's solicitor transfers the funds needed to complete the purchase of the property to the seller's solicitor. For remortgages, it is the date that the mortgage is transferred from one lender to another.
Completion Fee
An administration fee sometimes payable to the lender on completion of the mortgage.
Compulsory Insurance
Conclusion of Missives
The Scottish equivalent of Exchange of Contracts.
Conditional Insurance
An insurance product that a lender requires the borrower to take out in order to qualify for a particular mortgage. May include buildings and/or content insurance, or accident, sickness and unemployment insurance (ASU).
Contents Insurance
Insurance that covers against loss or damage to the contents normally kept in the property.
Converted Flat
A flat created from a larger property that has been subdivided.
Conveyancing
The legal work involved in the purchase and sale of land or the transfer of a mortgage. This is usually, but not always, done by a solicitor or licensed conveyancer.
County Court Judgement (CCJ)
A ruling against a person who does not repay a debt, obtained in a county or higher court by the person or company owed the money. The order spells out the terms under which the person owing the money is required to repay it.
Credit Reference
Agency An organisation that stores and updates financial and public records information about the payment history of individuals who have received credit. Almost always used by lenders to check payment records before they will offer a mortgage.
Credit Report
See Credit Check.
Credit Search
See Credit Check.
Current Account Mortgage
A mortgage which combines a current bank account with the features of a Flexible Mortgage allowing overpayments and underpayments, payment holidays, and enabling cheques to be written from the mortgage account.
Debt
An amount of money owed to a person or company.
Debt Consolidation
The act of combing two or more outstanding loans into one lower rate loan. The new loan repays the old loans.
Disbursements
Legal and administrative costs payable to the Solicitor or Licensed Conveyancer, related to the purchase or remortgage of a property. Includes Stamp Duty, Search Fees, HM Land Registry fees, CHAPS Fees and so on. Disbursements do not include the Solicitor's fee for carrying out the legal work.
Discounted Period
The length of time the Discounted Rate is payable. Can range from 6 months to several years.
Early Redemption Penalty
A fee imposed by a lender if all or part of a mortgage is paid off before the expiry of a Fixed, Discounted or Capped Rate period or within a specified period for these and other products (such as Cash Back mortgages). These penalties typically equate to a number of months' interest, or to a percentage of the total loan amount. Also called Early Redemption Fee or Prepayment Penalty.
Endowment Policy
An investment product which may be assigned to an interest only mortgage and the proceeds used to pay off the capital at the end of the mortgage term.
Endowment Mortgage
An interest only mortgage with an endowment policy assigned to it. The borrower normally pays only interest during the term of the mortgage and pays separate premiums into an Endowment Policy that is designed to repay the mortgage at the end of the term, although not guaranteed. The Endowment Policy also provides life insurance to repay the loan if the borrower dies. See also Low Cost Endowment.
Equity
The difference between the market value of the property and the amount of the owner's mortgage on that property.
Estate Agency Fees
The amount the estate agent charges the person selling the property. Normally equates to a percentage of the sale price.
Exchange of Contracts
(Not Scotland) The stage in the buying process when the deposit is paid and the sale of the property on the terms agreed by the seller and buyer becomes legally binding.
Existing Liabilities
The individual's existing financial outgoings which lenders may take into account when assessing ability to meet future mortgage repayments. Includes all nature of existing loan/credit card repayments, hire purchase agreements, rental agreements, maintenance payments etc.
Feuhold (Scotland)
Similar to freehold in the rest of the UK. However, whilst you own both the property and the land it is built on, a 'Feudal Superior' has an interest in the title of the property and may impose certain restrictions.
First Charge
A document which records a lender's or other party's contractual rights to title of a property over and above any other party(s) if the conditions of the legal charge are not met.
First Time Buyer (FTB)
Someone who has never previously owned a property. Some lenders also include applicants who have owned a property previously but have nothing to sell now and/or joint applicants where only one is a FTB.
Fixed Rate Mortgage
A mortgage where the interest charge rate does not change for a set period - usually a number of years or until a fixed date in the future. At the end of the period, the mortgage usually reverts to the lender's variable rate.
Fixtures
Items attached to - and therefore legally part of - a property. For example, built-in cupboards, sink, bath etc.
Flexible Drawdown
See Drawdown.
Flexible Mortgage
A mortgage which allows overpayments and underpayments on the mortgage without penalty, and, in some cases, to take payment holidays.
Foreign Currency Mortgage
A mortgage taken out in a currency other than Sterling.
Freehold (Not Scotland)
A property where you own both the building and the land on which it is built indefinitely. See Feuhold for Scotland.
Freeholder
The person who owns the Freehold of a property.
Full Status - Mortgage
A mortgage where the lender requires proof of income and credit references in order to verify the applicant's ability to meet the mortgage repayments.
Further Advance
An additional loan which is consolidated with an existing mortgage.
Ground Rent
A fee that a leaseholder has to pay the freeholder every year to provide certain services, for example, maintenance of the grounds in which the property stands.
High Loan To Value Fee
A fee charged by a lender if the mortgage amount is above a specified percentage of the property value (usually 75%-80%). Also known as Mortgage Indemnity Premium/Protection (MIP); Mortgage Indemnity Guarantee (MIG); Mortgage Indemnity Fee; Mortgage Guarantee Insurance (MGI); High Percentage Loan Fee; Additional Security Fee.
High Percentage Loan Fee
Home Buyer's Report
A surveyor's report which provides details concerning the condition of a property and its fixtures. See also Valuation and Structural Survey. A Home Buyers Report usually contains more detail than a Valuation Report and less detail than a Structural Survey.
Home Buyer's Valuation Fee
The fee payable to the Surveyor for producing a Home Buyer's Report.
IFA
See Independent Financial Adviser.
Illustration
A document setting out the costs of a particular mortgage for a potential borrower, usually showing the monthly payments for the first five years, and the cost of all fees associated with that mortgage product. See also Quotation.
Income
The amount of money a person earns, whether from employment or other sources.
Income Multiplier
The factor(s) by which lenders multiply one or more applicants' annual income to determine the maximum amount they are prepared to lend.
Income Reference
Written confirmation from an employer of an applicant's stated earnings. If self-employed, the applicant's accountant may be asked to confirm income either by letter or by providing audited accounts for a specified period.
Independent Financial Adviser (IFA)
An individual who operates independently of any financial product provider and is qualified to give impartial advice on financial planning and the selection of financial products such as insurance, pensions and mortgages.
Index Tracker
A mortgage type where the interest rate rises and falls in line with a particular published interest rate (usually the Bank of England Base Rate).
Individual Savings Account (ISA) Mortgage
An interest only mortgage which the borrower plans to repay using all or some of the proceeds from an Individual Savings Account.
Interest Only Mortgage
A mortgage which only requires the interest charged on the loan to be repaid during the term of the loan and the amount borrowed to be repaid at the end of the term (usually from the proceeds of an investment such as an endowment or pension policy). See also Endowment Mortgage, Pension Mortgage and ISA Mortgage.
Investment Home Loan (IHL)
Land Registry Fee
A fee paid by the solicitor or licensed conveyancer to the Land Registry to record a change in the registered ownership of a property and/or land.
Landlord's Reference
A document provided to a lender by an applicant's current or previous landlord commenting on the applicant's ability to meet regular rent payments.
Leasehold Property (not Scotland)
A property - usually a flat or maisonette - which is leased for an agreed (usually extended) period of time as stated in the lease but where the property itself is owned by the 'Freeholder'.
Leaseholder
Someone who owns the lease to a property.
Legal Charge
A document which records a lender's or other party's contractual rights to title of a property if the conditions of the legal charge are not met.
Legal Fee
Charges made by a solicitor or licensed conveyancer for carrying out conveyancing and other legal work in connection with a property purchase or remortgage.
Legal Completion
See Completion.
Lender
A bank, building society, mortgage company, or other company offering a loan.
Lender's Fee
May include one or more of the following: Administration Fee; Arrangement Fee; Booking Fee; Completion Fee; Valuation Fee.
LIBOR-Linked Mortgage ( LIBOR)
The rate for this kind of mortgage is normally quoted as an amount above LIBOR. Although the LIBOR rate changes daily, the rate for a LIBOR linked mortgage will normally only be adjusted every three to six months.
Licensed Conveyancer
Someone who undertakes the legal work associated with buying, selling and remortgaging property. May be used instead of a solicitor.
Life Insurance
A policy which pays a lump sum on the death of the policyholder.
Loan Consolidation
Loan to Value (LTV)
The amount of a loan expressed as a percentage of the value of the property. For example, a mortgage of £90,000 on a property valued at £100,000 would be shown as 90% LTV.
LTV
See Loan To Value Ratio.
MGI Mortgage
Guarantee Insurance. See High Loan To Value Fee.
MIG Mortgage Indemnity Guarantee.
MIP Mortgage Insurance Premium.
Mortgage
A loan secured against a property and incorporating a document which records a lender's or other party's contractual rights to the title of a property if the conditions of the legal charge are not met.
Mortgagee
The mortgage lender.
Mortgage Code Arbitration Scheme
A scheme enabling disputes between individuals and member lenders to be resolved without court action.
Mortgage Deed
The legal document recording the existence of a mortgage on a property.
Mortgage Indemnity Guarantee
Mortgage Subsidy
A payment made by an employer towards an employee's mortgage payments.
Mortgage Valuation
See Valuation.
Mortgage Quotation
See Quotation.
Mortgagor(s)
The individual(s) taking out the mortgage.
Multiplier (Income)
Negative Equity
A situation where a property is worth less than the mortgage secured on it.
Net Profit
A self-employed person or company's income after taxes and expenses have been deducted.
New-Build
A recently built property that has never previously been occupied.
Non-Status Mortgage
A mortgage where the lender does not require proof of income or other references (at their discretion).
Offer Letter
A formal offer of mortgage by a lender stating the terms under which it agrees to lend money to an applicant.
Other Income
Income in addition to basic salary.
Other Outgoings
A catch-all phrase covering all types of expenditure other than those specifically mentioned.
Outstanding
Amount still owing. Hence outstanding loan amount is the amount you still owe the lender.
Overpayments
Increased or additional mortgage payments made by the borrower usually to repay the mortgage early. Also sometimes called Excess Payments
Part and Part Mortgage
A combination of a Repayment (Capital & Interest) and Interest Only mortgage.
Payment Holiday
A period of one or more months when the borrower does not make any mortgage repayments. Normally only available to borrowers with a flexible mortgage who have previously overpaid their monthly repayments.
Payment Protection Insurance
See Accident, Sickness & Unemployment Insurance.
Penalties
Pension Mortgage
An Interest Only mortgage where the borrower plans to use some or all of the cash lump sum from a pension policy to repay the mortgage at the end of the term.
Percentage Advance
Portable
A mortgage that can be transferred to another property.
Previous Lender's Reference
A document provided by a lender outlining an individual's previous repayment history.
Principal
The amount of debt outstanding, excluding interest.
Principal and Interest Mortgage
Quotation
A document showing the actual monthly cost of a particular mortgage (including any fees that have been added to the loan), based on the information supplied. The quotation also shows all other mortgage related expenses for a particular mortgage, such as estimated solicitor fees and survey costs. See also Illustration.
Rate
The percentage interest rate charged by a lender.
Rate Cap
See Cap.
Redemption
The process of paying off your mortgage in full. Occurs at the end of the mortgage term, when changing lenders, or when moving house and taking out a new mortgage with a different lender.
Redemption Amount
The amount of money required to repay the mortgage in full.
Redemption Charges
Fees charged by the lender to cover administration costs when a borrower pays off a mortgage. Sometimes includes Early Redemption Penalty.
Redemption Penalty
Remortgaging
Changing mortgage lenders without moving house and in so doing, using the proceeds from the new mortgage to repay the old one.
Repayment Method
The means by which a mortgage is repaid. The two main repayment methods are Interest Only and Repayment Mortgage (see below).
Repayment Mortgage
A mortgage where part of the actual loan plus interest on the outstanding loan amount is repaid each month, gradually reducing the amount borrowed. A repayment mortgage guarantees to repay the total mortgage debt at the end of the mortgage term provided the correct monthly repayments are made on their due dates. Also called a Capital & Interest Mortgage.
Repayment Period
The number of years and months over which the borrower agrees to pay back the mortgage. Also called the Mortgage Term.
Residential Investment See Buy-To-Let.
Retention
This is when a lender holds back or 'retains' part of the agreed mortgage until certain conditions have been met, for example receipt of warranties, carrying out of repairs or improvements, or, for new-build properties, reaching a key stage in the building program.
Right-To-Buy
The right of a tenant in a local authority owned property to buy the property, sometimes at a discount, the discount depending on length of tenancy.
Second Charge
A document which records a lender's or other party's contractual rights to title of a property if the conditions of the legal charge are not met.
Searches
Checks carried out by a Solicitor or Licensed Conveyancer with local authorities and other official organisations to ensure there are no planning proposals or other matters that could adversely affect the value of the property.
Self-Build Mortgage
A mortgage taken out on a property that is still under construction. The lender normally pays out the loan in stages to ensure that it doesn't at any stage exceed the value of the property at its current stage of building.
Self-Certification
The process of certifying your income to the lender by signed letter or declaration instead the lender acquiring references.
Settlement
The Scottish equivalent of Completion or Legal Completion.
Stamp Duty
A tax paid by the buyer when purchasing a property. The amount payable works on a sliding scale dependent upon (and calculated as a percentage of) the property price.
Standard Construction
A building constructed using standard techniques such as bricks and mortar, tiled roof and cavity walls.
Standard Variable Rate
The default interest rate charged by lenders which is usually in line with a stated index, such as the Bank of England Base Rate. It rises and falls broadly in line with changes in the Bank of England Base Rate and is normally applied at the end of a 'special rate' period, such as a fixed, capped or discounted rate.
Stepped Rate Mortgage
A mortgage where the interest rate charged rises in stages over time.
Structural Survey
A detailed examination of a property's structural condition by a surveyor or other qualified person. A structural survey report will normally provide a full and detailed description of the structure, list all the defects and alert the recipient if a specialist report is needed, e.g. drainage, damp or subsidence. Also called a Buildings Survey or Full Structural Survey, and ranks higher than a Home Buyer's Report.
Survey See
Home Buyer's Report, and Structural Survey.
Survey Fee
The fee charged by a surveyor to carry out a Home Buyer's Report or Full Structural Survey on a property. May also incorprate the lender's Valuation Fee if you are using the same surveyor to carry this out.
Surveyor
A person professionally qualified to estimate the value of land and property and carry out a survey.
Tie-in Period
The period you agree to stay with the lender for when you take up a special offer mortgage (Fixed Rate, Discount, Cash Back etc). These sorts of products normally commit you to staying at least until the end of any special rate offer, and sometimes for a period afterwards. If you decide to repay your mortgage during the tie-in period you will normally have to pay an Early Redemption Penalty.
Term
See Mortgage Term
Tracker
A product where the interest rate is set at a stated percentage above a published index rate, then rises and falls in line with that index.
Underpayment
A m ortgage payment that is less than the amount normally required for that month. Usually only allowed for borrowers with flexible mortgages or by prior arrangement with the lender.
Valuation
Not to be confused with a survey. A Valuation is report for the lender's own use stating the current value of the property and other information concerning the state of repair, the area, etc. See also Home Buyer's Report and Structural Survey.
Valuation Fee
A fee paid to the lender to cover cost of the Valuation.
Valuation Report
See Valuation.
Value
The price that a property would in normal circumstances be expected to sell for in prevailing market conditions. Normally determined by an estate agent familiar with the local property market.
Variable Rate Mortgage
A mortgage whose interest rate rises and falls roughly in line with a stated index, such as the Bank of England Base Rate.
Vendor
The person or persons selling a property.
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- What are 'Self-certification' mortgages? #1
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- What are 'Enhanced income multiples' mortgages?
- What are 'Self-employed' mortgages?
- What are 'Larger' mortgages?
- What are 'Right to Buy/Council Purchase' mortgages?
- What are 'Application turned down' mortgages?
- What are '7 Day Emergency' mortgages?
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- What are 'Buy to Let' mortgages?
- What are 'Let to Buy' mortgages?
- What are 'survey and property problem' remortages?
- What are 'First time buyer' mortgages?
- What are 'Self build' mortgages?
- What are 'Equity release' mortgages?
- What are 'Foreign currency' mortgages?
- What are 'Flexible' mortgages?
- What are 'Current account' mortgages?
- What are 'Shared ownership' mortgages?
- What are 'Commercial' mortgages?
- Getting a fair deal on a mortgage
- Glossary of mortgage terms
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IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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