Libor

The London Inter Bank Offered Rate: the rate at which banks lend money to each other. LIBOR changes daily and a LIBOR linked mortgage will normally be adjusted every three...

Licence to Occupy

A shorter and more simple type of tenancy agreement that a standard commercial lease. This type of tenancy does not create an interest in the property and so the tenant will have to accept that the Landlord can themselves enter the property at any time. The terms...

Local Housing Allowance

A government benefit that allows tenants fixed amounts to spend on housing dependent upon the local rental market and permit them to keep any saving or to contribute an additional amount needed according to their choice of properties. Payments are made direct to...