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Mortgage Types :
Mortgage Companies :
Building Societies :
Loans :
Loan Companies:
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| Listed below are general Mortgage-related terminologies and their meanings. Click on the alphabet to view the list of terms starting with that letter. |
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Tenants : Tenants are people staying in some property without any rights to it.
- Tenancy in Common : A type of possession by more than one person and if one is dead then their property share becomes a portion of the estate, however it will not involuntarily be transferred to rest of them.
- Title : It is the record representing property rights, the proof that this is established in its title deed.
- Total Amount Payable : The full sum required for paying back a mortgage.
- Tracker Mortgages : It customarily track fluctuations in the base rate established under the Bank of England. The interest charge is normally fixed at a steady level over or beneath the base rate, growing and declining in a track with very modifications, all through the tracking duration. It indicates that in case there is decline of base rate, the sum to repay plummets. At the same time, if base rate mounts, then your payments also rise. These mortgages is for the duration of a fixed time like 5 years, following which you generally shift over to a latest tracker rate, or for a separate mode of rate totally.
- Transfer Deeds : This document of Land Registry passes on legal rights from seller to the purchaser.
- Transfer of Equity : The term is to include/exclude a party from/to a mortgage.
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