executive collection of 4 & 5 bedroom homes
A term used to describe house buying applicants with a poor credit history.
A CAT mortgage is one that meets numerous government defined standards relating to charges, Access and Terms. The objective of these standards are to prevent confusing marketing and hidden charges. The government is seeking to set out basic and transparent conditions for mortgage products.
Completion of the legal transaction with all monies and documents having been distributed. This is also when the seller’s solicitor will instruct the estate agent to release the keys.
A formal agreement between the buyer and seller, usually prepared by a solicitor or licensed conveyancer, detailing the terms and conditions of the sale.
Legal documents assigning ownership of a property and/or land.
Sum of money that represents the personal capital that the buyer is putting toward the purchase of the property.
The value of your property, minus the amount you still owe on your home loan.
The process by which a buyer and seller are legally bound to the sale and purchase of your home.
Ownership of the property and land upon which the property is situated.
The UK financial regulator for financial services, also known as the FSA.
A person who guarantees that a loan will be paid, even if the buyer defaults on the repayments.
A UK Government Scheme that helps people to become homeowners and move up the property ladder. For more information, visit our Help to Buy England and Help to Buy Wales pages.
An IFA (Independent Financial Advisor) is able to offer completely independent advice on your mortgage.
A Government organisation that contains a record of all properties in England and Wales that are registered.
To be given ownership of the property but not the land that it is built on. This normally requires payment of ground rent to the landlord. A leasehold is usually ordered over 999 years or 99 years.
An application to request further details of planning which may affect buying your home.
A legally bound contract to guarantee that a loan will be repaid by the buyer.
The process of having your new home surveyed to ensure that the condition of the property is worth the price agreed.
Words used to indicate that an agreement is not yet legally binding.
A scheme (usually offered by registered social landlords or local authorities) where you buy a share of a property, and pay a reduced rent for the rest.