Statistical and Industry Jargon
- Arrangement fee - Either a percentage of the loan advance or a set fee charged by the mortgage lender or mortgage brokers to provide and arrange a mortgage.
- Loan to Value (LTV) - The total loan size in relation to the value of the property.
- Mortgage gross lending - all new lending done in a given period including remortgaging and new loans for house purchase.
- Mortgage balances outstanding - the total mortgage balances outstanding at a given point of time.
- Net mortgage lending - the total change in balances outstanding between two point in time, this can also be calculated by adding together the total gross lending in a period less repayments, redemptions and loan losses in the same time period.
- Redemption - paying back a mortgage 'early' as opposed to paying back a mortgage following a set repayment plan, typically when remortgaging to another mortgage provider or by way of some other lump sum payment (e.g. when selling of the property).
- Remortgaging - refinancing of a mortgage, usually understood to mean moving from one provider to another.
- remortgage news
Read more about this topic: UK Mortgage Terminology
Famous quotes containing the words industry and/or jargon:
“... we’re not out to benefit society, to remold existence, to make industry safe for anyone except ourselves, to give any small peoples except ourselves their rights. We’re not out for submerged tenths, we’re not going to suffer over how the other half lives. We’re out for Mary’s job and Luella’s art, and Barbara’s independence and the rest of our individual careers and desires.”
—Anne O’Hagan (1869–?)
“You know, whenever women make imaginary female kingdoms in literature, they are always very permissive, to use the jargon word, and easy and generous and self-indulgent, like the relationships between women when there are no men around. They make each other presents, and they have little feasts, and nobody punishes anyone else. This is the female way of going along when there are no men about or when men are not in the ascendant.”
—Doris Lessing (b. 1919)