Jargon

Don’t know your Abstract Title from your Deeds of Sale? Then use our jargon buster for a simple explanation of all the weird and wonderful phrases affecting your nest.

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Capital
The amount of the loan on which interest is calculated, excluding costs and interest outstanding.
Capital gains tax
A government tax payable on any profit realised at the time of the disposal of the asset. Owner occupied properties are normally exempt from Capital Gains Tax. Whereas any other property that is not the main home address of the owner may be subject to this tax on disposal of the asset.
Capped mortgage / Capped Rate
A capped rate mortgage is a mixture between a fixed rate and a variable rate. Normally agreed for a fixed period of time, many lenders provide mortgages with an upper limit on the interest rate. Thus if the standard interest rate is lower than the upper limit you will be charged the lower rate, but if the standard variable rate is higher you will be charged at the agreed rate.