A loan where the initial payments, for a certain period of time, are based on a specific interest rate. The rate payable will not change during that period regardless of changes in the lender's standard variable rate. Read more about fixed rate mortgages in our mortgage section.

Residential habitation situated above retail premises. Some lenders will not lend on this type of security because it is seen as having limited appeal to prospective purchasers and therefore have a lower value compared to an otherwise similar property. Any property that is located above commercial property usually takes longer to sell than properties which do not have any commercial element. A flat above a take-away restaurant is more difficult to arrange a loan on than a flat above a book shop.

Flexible mortgages are offered by some lenders and allow you to make overpayments in order to repay the mortgage early or save for a special event. Read more about flexible mortgages in our mortgage section.

An action a lender may take to delay foreclosure or legal issues with a delinquent borrower.

Land or property which is owned outright, as opposed to leasehold where the owner has the right to occupy the land or property for a given period of years only.

FAQs Archive | Page 9 of 27 | Together Financial Solutions

Q: Fixtures and Fittings

There may be bites in the house that you want included in the sale like carpets door handles light fittings etc.

Q: Foreign Currency Mortgage

It is now possible to get a mortgage for your property in the UK in a mortgage denominated in a foreign currency. It sometimes gives you the opportunity to borrow money at a lower rate of interest than is possible in the UK.

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