Jargon Buster

Understand property related jargon.

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

Additional security fee

An up-front, one off fee paid to the lender to protect them against the borrower defaulting on the loan. Usually, charged on mortgages over 75% of the house value. Also known as MIG, Indemnity Guarantee premium and Mortgage Indemnity Premium.
Annual percentage rate

(APR) the total cost of a loan, including all costs, interest charges and arrangement fees shown as a percentage rate and easily comparable with mortgage interest rates.
Arrangement fees

Charged to arrange a loan on certain products. Usually applied to loans where a special interest rate applies e.g. fixed or capped rates.
Assignment

The transfer of ownership of an insurance policy or lease.
Auction

The sale of a property to the highest bidder.

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