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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z C capital - the original amount you borrowed to buy your home. capital and interest - another name for the repayment method of paying your homeloan where each payment covers the monthly interest and part of the capital borrowed. cashback - a set lump sum or a percentage of your loan offered as cash on completion as part of your mortgage deal. Often the deal is then subject to early redemption penalties. CCJ - county court judgement, handed out for the non payment of a debt. If the bill is settled within 30 days of the judgement the CCJ will not appear on your credit record. Payment after 30 days means it will be shown but labelled "satisfied". Any CCJ, satisfied or otherwise, on your record means that most high-street lenders will refuse you a mortgage, although a more specialist lender can probably help. CML - Council of Mortgage Lenders, which has devised the Code of Mortgage Lending Practice to ensure lenders and advisers treat consumers fairly. completion - the point at which a property is legally yours, and usually the day you move in. contents insurance - cover for the contents of your home, including furniture, clothing, carpets, curtains, valuables and so on. conversion or converted flat - a self-contained flat that was once part of a larger property. conveyancing - the process your solicitor goes through to complete the legal aspects of your home purchase, including carrying out a local search, finding and checking the title deeds, registering your ownership with the Land Registry and drawing up the sale contract. credit check/score - a lenderís method of assessing the risk of taking you on as a borrower, based on your financial record. |
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