OFF PLAN
An off-plan property is a property that is being sold before it has been built or completed. Off-plan properties are typically sold by developers ...
UNDERWRITING
Mortgage underwriting is the process by which lenders evaluate the risk of lending money to a borrower for the purpose of purchasing or refinancing ...
RIGHT TO BUY
Right to Buy allows most council tenants to buy their council home at a discount. Use the eligibility checker on the Own Your Home website to ...
LEGAL CHARGE
A legal charge is a legal interest in a property that is granted to a lender as security for a loan. It gives the ...
GUARANTOR MORTGAGE
A guarantor mortgage is a type of mortgage in which a third party, known as a guarantor, agrees to be responsible for the mortgage ...
DEBT CONSOLIDATION
Debt consolidation is when a borrower takes out a new loan or remortgage to repay their other debts. This can be done for a ...
CAPITAL RAISING
Capital raising is when a mortgage borrower takes out a new larger loan which is used to repay their existing mortgage and leave some ...
SECOND CHARGE
A second charge mortgage, also known as a ’secured loan’ or ‘second mortgage’ allows you to borrow money, whilst leaving your existing mortgage in ...
CONSENT TO LET
If you wish to move out of your home and let it to tenants you will need to ask your lender for permission. This ...
SIC CODES
SIC is short for Standard industrial classification of economic activities (SIC) The SIC code is part of the registration with Companies House and provides ...
Key Facts Illustration
When a lender or mortgage broker recommends a mortgage for you, they must provide you with a key facts illustration (KFI). This is basically ...
COMPANY DIRECTOR’S LOAN
Within the formal accounts for a company there will be a Director’s Loan Account (DLA) for each director. Note that these are for directors ...
WHAT IS A FURNISHED HOLIDAY LET?
A Furnished Holiday Let (FHL) is a rental property that must meet strict HMRC rules to enable it to qualify for beneficial tax treatment.
SECTION 24
In the 2015 Budget, the UK Government announced changes to the rules for mortgage interest tax relief for property investors. Landlords that owned property ...
REPAYMENT METHOD
There are two main types of mortgage repayment method to choose from. The most common types are the Interest-only Mortgage, and the Repayment Mortgage. ...
