|Accelerated Possession Procedure||
A way for landlords to gain possession of their property, that is straightforward and cheap, without a court hearing. The court makes its decision based solely on documents provided by the landlord and tenant, but can decide a hearing is necessary. This procedure can only be used where there is a written tenancy agreement and the tenant has been given notice. The procedure cannot be used to claim for arrears of rent.
Interest charged but not yet paid.
The monetary costs involved in purchasing a property, other than the purchase price e.g. Solicitors disbursements, Fees etc
|Additional Security Fee||
Fee charged upfront by lenders in order to protect themselves against a borrow defaulting on the loan. This fee is usually charged on mortgages over 75% LTV. Also know as : Mortgage Indemnity Guarantee (MIG) or a Mortgage Indemnity Premium.
|Adjustable Rate Mortgage||
A mortgage that consists of two terms, the first of which has a fixed rate of interest, and the second an adjustable rate.
Fee you pay to a company for the administration/setup of a service or product. All regulated firms must give details of all fees before you buy a service or product.
The amount of money that your lender is prepared to lend you
Person/company or organisation that has been appointed to acts on behalf of a landlord, i.e. letting agent, management agent or
|Agreement In Principle|
A very specific planning condition that allows for the building of a residential dwelling, on the condition that it is occupied by a person employed or associated with working the land.
|Annual Equivalent Rate||
The interest paid from current, deposit or savings accounts
|Annual Percentage Rate|
Act of determining the current value of your property. Usually performed by an estate agent when you are selling your property.