Mortgage

A loan used to purchase property. In reality it is a Deed pledging freehold or leasehold property as security for the loan (also called legal charge). If payments are not maintain as agreed the mortgagor will be able to claim the property and sell it on to recover the...

Mortgage Approval

A mortgage approval is the firm offer to a customer of a specific amount of credit secured against a particular property. The Mortgage Approvals released by the Bank of England is considered as a leading indicator of the UK Housing...

Mortgage Broker

An agent of one or more mortgage lenders. Brokers often have access to mortgage products unavailable on the open market. The broker may charge and/or receive a fee from the lender for this...