Glossary of Terms
Buying a home for the first time can be daunting enough, without the extra stress of unfamiliar legal and financial words.
That’s why we’ve put together this glossary of buying terms to help you decode some of the language you might encounter during the process of choosing and buying a new home, and all that entails, from mortgages to dealing with solicitors.
Click on a letter to go directly to that place in the alphabetical listing.
This is when you fully own a home or piece of land, from a legal perspective.
Normally lent by a bank or building society, an advance is otherwise known as a loan, and provides the borrower with the funds needed to buy a home.