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If you're new to seeking a mortgage insurance May terminology and acronyms that are commonly used. Here is a brief summary Quick and mortgage terms that are used to help you quickly understand and have confidence in this area so they are able to find the best price.
Credit scoring
The report showing your credit file to see if you have lost or minimize the payment and gives changing demands of
Agency Fees
The fee for a broker who offers a mortgage for you
Booking fee
Another name for a departure tax – the fee paid to the lender for the privilege of borrowing money, generally non-refundable
Rate Application
The fees charged by the mortgage company to cover their costs of all changes and modifications
Contingency fee agreement
The fees charged by the mortgage company for the privilege of lending money to you, generally non-refundable
LTV
The meaning of the loan value and the percentage the amount of money you borrow against the value of your property
Only the interest
You only pay interest on the mortgage and does not reduce the balance at the end of term
Mortgage Payment
You pay for interest and to pay the mortgage because of your mortgage at the end of term
Deadline
The length of the mortgage account for the time have borrowed money in general 25 years
ERP
Reimbursement Early Penalty – fine if you pay your mortgage in advance of the end in
Facts The rate of new
The fee charged by the lender for the release of facts and involvement of their property
RVS
Standard variable rate – Mortgage interest rates to support standard now follows in general and above the base rate
HLC
Fees charged by lenders to cover their credit risks, because a higher value compared to the value of property
More higher lending charge
Insurance costs for the lender in case of a loan more than it is comfortable with
Cashback
A sum of money paid back to you by the lender, once you take your Mortgage
Strong
The amount of money you need to make the purchase
Loan Offers Mortgage
Proceeds from the mortgage by which the interest rate has declined over a period of time
Ready level
Mortgage product whereby it follows the base rate from top to bottom, but can go up a certain amount and then nothing
Fixed Mortgage
Proceeds of the mortgage whose interest rate is fixed at an amount determined by a period of time and whatever the base rate is
Base rate tracker mortgage
Proceeds from the mortgage interest rate following the base rate
Discounted rate mortgages Variable
Mortgage product has a rate discount rate standard, but it is the base rate so you can raise and lower the same as the base rate
Flexible Mortgages
Mortgages who have a degree of flexibility and benefits such as overpayments or incomplete, laptops, paid vacation
Tracker Mortgages
Mortgage product or follow the tracks the base rate
Sub Prime Mortgages
Mortgage products are slightly higher that interest rates are available to people with bad credit history
BBR
Rate basic bank – or more commonly called the base rate is set by the Monetary Board Public
Base Rate
The rate set by public funders Monetary Committee will continue to set their fares
LIBOR
The interest rate that banks borrow money from other
BTL
Buy to Let mortgage, special mortgage for investors that allows them to buy home and rent
LTB
For purchase mortgages, mortgage special you can buy a new house and renting your old house
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