The Property Guide


Property Knowledgebase and Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 


Mezzanine Intermediate floor usually in a multi-story building, which does not extend to the full floor area of the whole building.
Monthly Interest A method of calculating mortgage interest on a monthly basis.
Mortgage An amount of money borrowed for a period of years to buy a property.
Mortgage Deed A legal document relating to the mortgage lender's interest in the property.
Mortgage Indemnity Guarantee This charge is payable (usually added on to your loan) if you borrow more, for example, than 90% of the valuation or purchase price of your property.
Mortgage Offer A formal offer of mortgage issued by a building society, bank or other lender once the usual formalities such as references and valuation have been carried out.
Mortgage Payment Cover (M.P.C.) This is insurance designed to pay your monthly mortgage payment for a limited period, usually a year, if you are unable to work through illness, accident or redundancy.
Mortgage Term The length of time over which the mortgage is to be repaid. Often this is 25 years - but it can be shorter, or in some cases for longer periods of time.

© RuleWorks - All Rights Reserved - Policy -