Gift Inter Vivos
“Gift Inter Vivos” is a specific type of life insurance policy designed to cover potential inheritance tax (IHT) liabilities on gifts made during one’s ...
Joint life second death
“Joint life second death” life insurance, also known as “second-to-die” or “survivorship” life insurance, is a type of policy that covers two individuals, typically ...
Joint life first death
“Joint life first death” life insurance is a type of joint life insurance policy that covers two individuals, typically partners or spouses. The policy ...
CIFAS
In the digital age, the risk of identity theft and financial fraud is ever-present. CIFAS, the UK’s leading fraud prevention service, plays a crucial ...
Gone Away Information Network (GAIN)
The Gone Away Information Network, commonly known as GAIN, is a term that often pops up in the context of credit and debt management. ...
Maximum Working Age (MWA)
The Maximum Working Age (MWA) is the age up to which lenders consider an applicant’s earned income when assessing mortgage affordability. Most UK lenders ...
Seafarer’s Earnings Deduction
The Seafarer’s Earnings Deduction (SED) is a unique tax rule applicable to UK residents who work on ships outside of the UK. It allows ...
European Standardised Information Sheet (ESIS)
The European Standardised Information Sheet (ESIS) is a document that provides detailed information about a mortgage product to potential borrowers within the European Economic ...
Tenure
‘Tenure’ refers to the legal status of your ownership when you own a property in the UK. Essentially, it clarifies how you hold or ...
BISF Houses
BISF (British Iron and Steel Federation) houses are a type of non-traditional, prefabricated housing built in the UK between the 1940s and 1950s. The ...
PRC Certificates
PRC Certificates, also known as PRC Repair Certificates or PRC Completion Certificates, are documents issued to confirm that a prefabricated reinforced concrete (PRC) house ...
Restrictive covenant
A restrictive covenant is a legal provision included in the title deeds or land registry documentation of a UK property. It imposes certain limitations ...
Income Cover Ratio (ICR)
The Income Cover Ratio (ICR) is a key measure used by lenders to assess affordability for Buy to Let mortgages. In simple terms, it ...
Loan to Income flow limit (for lenders)
The Loan to Income (LTI) flow limit is a technical recommendation made to the Financial Conduct Authority (FCA) by the Financial Policy Committee (FPC) ...
Payday Loan
A payday loan is a type of short term loan that can be used when someone needs funds quickly. They are designed to bridge ...
