Mortgage Jargon Buster

mortgagemotorway.com have compliled an a - z of mortgage jargons used in this sector they explain products, services and general terms used to help you understand mortgage and finance products. If you would like further assistance please feel free to contact a member of the team.

Advisor Direct: Miss Patsy Morris

Telephone: 0845 121 3155
Mobile: 07786 968 118
Email Direct: pmorris@mortgagemotorway.com


 

Select your mortgage term from our A - Z list below:

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

Tariff

A document detailing the costs and charges for a particular service or services.

Term

The period of time between the start and finish of the mortgage loan or long term insurance policy.

Term Assurance

A life insurance policy that provides a lump sum in the event of the death of the policyholder during a specified period but has no encashment value at any time during or at the end of the term.

Timber Framed

A property whose major structural components are constructed from wood, rather than brick, stone or concrete. Typically an insurer will charge more for buildings insurance on a timber-framed property.

Title

The document that confirms the right of possession to an area of land.

Title Insurance

An insurance policy against any loss resulting from defects of title to a specifically described parcel of property.

Title Search

An investigation, carried out by a conveyancer or solicitor, into the history of ownership of a property. The search will check for liens, unpaid claims, restrictions or any other problems that may affect ownership.

Tracker

A type of mortgage whereby any changes in the rate of interest charged follow exactly ('track') another, specified, interest rate or index. Typically a tracker mortgage will track the Bank of England base rate.



 

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