Glossary of mortgage terms - C
Not sure what a MIG is or what fixed-rate and leasehold all means? We can help you through the maze of jargon with our easy-to-use mortgage glossary. Find the words you want using the buttons below.
A ¦ B ¦ C ¦ D ¦ E ¦ F ¦ G ¦ H ¦ I ¦ L ¦ M ¦ N ¦ P ¦ R ¦ S ¦ T ¦
Capital
The amount you owe excluding costs and any interest outstanding.
CAT standard
Stands for Charges, Access and Terms - which have to be low, easy and fair respectively. The Government introduced these standards to help borrowers and especially first-time buyers understand about mortgages.
Closing administration charge
A final charge made by the lender to cover their administration costs when a mortgage is fully repaid.
Completion
The final legal transfer of ownership of the property - when the property becomes yours to live in.
Contents insurance
Insurance that covers your personal belongings.
Contract
A written agreement between the seller and the buyer of a property.
Conveyance
Solicitor or licensed conveyancer who deals with the legal aspects of buying or selling land.
Conveyancing
The legal work involved in the sale or purchase of land.
Why Avocado?
Avocado Mortgages can help power charge your finances, releasing equity tied up in your property.
- To treat our customers fairly and with honesty and integrity in a courteous manner at all times.
- To offer our professional yet personal service to our customers in a speedy manner.
- To endeavour to recommend the most suitable lenders and products to satisfy customer needs, using the whole market place.
- To provide our customers with all the relevant information required during the process and to ensure that customers fully understand the information.
- To endeavour to make prompt contact with new clients to start our advice process as soon as possible, ensuring that the client is able to speak to an experienced advisor.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
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