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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 F first-time buyer - usually someone who has never owned property before, but some lenders may offer the same terms to borrowers who have bought and then sold in the past. Some lenders offer preferential rates and terms to first-time buyers. fixed rate - a rate of interest that is set at a certain level for a prescribed period of time, regardless of what happens to the lender's standard variable rate. flexible mortgage - a mortgage offering a number of flexible features, possibly including penalty-free lump-sum and regular overpayments, underpayments, payment holidays and drawdowns, as well as daily calculation of interest. freehold - land or property which is owned in perpetuity as opposed to leasehold where the owner buys the right to live there for the length of the leasehold agreement. full status loan - a loan where complete checks are made on your credit history and income. Most conventional high-street lenders will do this. |
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