FREEHOLD
In England, freehold property ownership is when the owner has full and permanent ownership of both the land and any buildings on it. Essentially, ...
FIXTURES
Fixtures are any type of item that is fixed to a property and usually comes with the sale. Items such as furniture, carpets, kitchens, ...
FIXED RATE MORTGAGE
A fixed interest rate mortgage is a type of mortgage where the interest rate remains fixed for a set period of time. This means ...
FITTINGS
Fittings are items that are not permanently attached to the property, and can be removed without damaging the structure. Examples of fittings include:
FIRST-TIME BUYER
A first time buyer is someone who has never owned a property or land. Lenders create first time buyer mortgages specially for this group ...
FIRST CHARGE
In the UK, a first legal charge is typically used to secure a main mortgage or other loan on a property. When a borrower ...
EXIT STRATEGY
An exit strategy is the way you will eventually repay your bridging loan or development loan. The exit strategy should be realistic and credible ...
EXCHANGE OF CONTRACTS
Exchange of contracts is an important step in the process of buying and selling a property in the UK. It marks the point at ...
EQUITY
Property equity refers to the value of a homeowner’s interest in a property. It is the difference between the value of the property and ...
ENERGY PERFORMANCE CERTIFICATE (EPC)
An EPC is a document that displays a property’s energy efficiency rating and environmental impact. Legally required for the sales and lettings process.
ENDOWMENT MORTGAGE
An endowment mortgage is a type of mortgage that was popular in the UK in the 1980s and 1990s. It combines an interest-only mortgage ...
EASEMENT
An easement is a legal right that allows one person or entity (the “dominant owner”) to use the land of another person or entity ...
EARLY REPAYMENT CHARGES (ERC)
An Early Repayment Charge is a charge you have to pay the lender, if you repay the whole or part of your mortgage within ...
DISCOUNTED RATE MORTGAGE
A mortgage deal where the interest rate is a set amount less than the mortgage lender’s standard variable rate (SVR), usually for a fixed ...
DISBURSEMENTS
Solicitors’ disbursements are the costs that a solicitor incurs on behalf of a client during the course of a transaction, such as the purchase ...
