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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Penalties
Costs that may be incurred if the borrower repays the loan too early or switches between lenders.
Pension Plan
An investment plan which can provide a lump sum on and an income after retirement. A pension plan is sometimes used as a way of providing a lump sum to repay the capital of an interest only mortgage.
Peppercorn ground rent
A nominal periodic rent usually paid annually.