Useful Info
Glossary of Terms
Interest Only
A mortgage where you just pay interest each month and the entire balance remains payable at the end of the mortgage term.
Repayment / Capital and Interest
A mortgage where if the monthly repayments are made each month for the term, the balance will be repaid in full.
Transfer of Equity
The process of adding or removing someone from a mortgage and the title of a property.
Tenants in Common
The format in which a property can be owned where the owners own specific shares in a property.
Joint Tenants
Where the owners all own all of the property rather than it split in to shares.
Conveyancer
A solicitor who specialises in property law.
Valuer
An alternative term used for a surveyor who will value a property.