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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Financial services authority (FSA)
An independent body which regulates the financial service industry in the UK. Their aim is to help consumers become better informed about financial matters.
First Time Buyer
Lenders differ in their definition of a First Time Buyer. Some will include in this people who have owned a property before but have no property to sell. Other lenders will include joint borrowers where just one of them is a First Time Buyer. Some lenders only apply this to someone who has never owned a property before.
Fixed rate mortgage
The lender will fix the interest rate that they charge at a set level for a fixed period of time. The lender will normally charge early redemption charges if the mortgage is repaid.