The Property Guide
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Background

Property Knowledgebase and Glossary

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ItemDescription
Daily interest With this method of calculating mortgage interest, it is charged on the amount of mortgage outstanding from day to day.
This means lenders take into account any changes in the amount you owe on a day-to-day basis.
Date of Entry (Scotland) The date all monies and title deeds are transferred, and you can now move into your new home
Deeds Legal documents that show who owns a property or piece of land.
Deposit Sum of money which the buyer puts down to secure the mortgage loan after exchange of contracts, usually 5 to 10 per cent of the purchase price.
Derelict Land Land so damaged by industrial or other development that it is incapable of beneficial use without treatment.
Detached Term used to describe a property that stands alone and is separated from all others.
Development Area A priority area for environmental, social or economic regeneration or a combination of these.
Disbursements All the various costs for carrying out the legal work in relation to buying or remortgaging your home.
Discharge Paying off a mortgage.
Discount Mortgage A discount offered by mortgage lenders to borrowers, reducing monthly mortgage repayments often for the first two or three years of the loan period.

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