Please view the glossary definitions from our list below. Some terms have a dedicated page with a longer definition. This is available by clicking on the "more about " link.
Vacating Fee
This fee is charged on the release of property title deeds following redemption of a mortgage advance.
VAL
Is an abbreviation for the term valuation.
Valuation
When a surveyor values your property.
Valuation Fee
A fee paid by the borrower for the lender's inspection of the property. This is normally paid on application. See fee, arrangement fee, fees added to loan, booking fee, conveyancing fee, land registry fees, IGP, and stamp duty.
Variable Rate
An interest rate that will vary over the term of the loan, normally in line with the general cost of borrowing.
Verification Of Employment
Most lenders will contact your employer to confirm you work there and your paid regularly.
