Main Residence |
The normal place of residence. See also: holiday home and second home. |
Maisonette |
A property comprising of more than one separate living areas; used to describe a flat which extends over more than one floor or a flat that has its own entrance at street level. |
Mandatory Products |
Compulsive items in the financial package that you are purchasing. |
Monthly Fee |
A fee charged once a month. |
Monthly Repayment |
This is the amount you pay our lender each month toward the cost of the credit they have given you. |
Mortgage |
The name given to credit used to buy property or loan secured by land. |
Mortgage Code |
The regulations that mortgage provider have to stick to. |
Mortgage Deed |
Legal document establishing a loan on property. |
Mortgage Indemnity Guarantee |
See high loan to value fee. |
Mortgage Subsidy |
A payment made by an employer to subsidise the cost of interest payments on a home loan. The amount and extent of the subsidy will vary from employer to employer and these can be calculated in a variety of different ways. |
Mortgage Term |
Is the length of time before the mortgage loan must be repaid. |
Mortgage Payment Insurance (MPI) |
This is an insurance cover to protect your mortgage payments. |
MTGS |
An abbreviation for mortgage multipliers (income) this is a factor applied to a prospective borrower's income to calculate how much the prospective borrower is able to borrow. |
