Glossary | GPL

Glossary

Our Glossary is searchable by word so if there is a term you are unsure of, or require further explanation, simply type the word into the search field above.

Absolute Title

This is the best class of title and the one that will be granted in the vast majority of cases.

Administrator

The person who applies to deal with the estate of the deceased who left no will (therefore intestate).

Annual Percentage Rate (APR)

The upfront and ongoing costs involved in taking out a mortgage.

Anti-Money Laundering Form

This is to ensure that monies are coming from a secured source in order to proceed/complete your sale/purchase/remortgage.

Bankruptcy Search

A document which says whether or not you, or related parties, are bankrupt.

Beneficiary

The person or company who holds the benefit of the restriction on the property/

Broker Fee

A charge incurred from the mortgage broker, for their work carried out.

Buy-To-Let Mortgage

Banks usually lend up to 75% of the value/the purchase price – whichever is lower.

Capital Repayment

By the end of the mortgage term – the loan is completely repaid.

Capped Rate

A mortgage can go up and down with the variable rate, there is a maximum interest rate which it cannot go above.

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