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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Standard Variable Rate
Traditionally, mortgage interest rates would rise and fail in line with the Bank of England base rate.
Statutory Obligations
Requirements and obligations placed on landlords and/or their agents by Acts of Parliament – i.e. Law of the Land.
Structural Survey
The most detailed type of survey report normally undertaken in connection with a House Purchase. If a Structural survey is opted for then the lender will also need to have a mortgage valuation carried out for their own use and the borrower will be responsible for both fees. An alternative is a Home Buyers Report that will cover both the borrower and the lender. Advice should be taken from a qualified surveyor who will be able to advise on individual properties and circumstances.