Jargon Buster - M

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 ...

Mezzanine finance can be used to finance the acquisition or development of properties and land. In this context, mezzanine debt finance is typically structured ...

A mortgage term is the length of time over which a borrower repays a mortgage. The term of a mortgage can range from a ...

Mundic can be found in some properties in Cornwall and Devon. It was used in the making of concrete and can cause serious structural ...

This term is often used in relation to holiday complexes, where there are several buildings on one legal freehold title. An example would be ...

A multi-unit freehold block comprises of multiple, self-contained units, on a single freehold title.

A report on the value of a property by an independent surveyor on behalf of the mortgage provider. Our Guide to Property Surveys walks ...

A mortgagor is someone who takes out a mortgage on a property. Essentially, they are the borrower in this agreement. By signing the mortgage ...

A mortgagee is the lender or bank in a mortgage agreement. The mortgagee provides the mortgagor with an agreed sum of money to purchase ...

A mortgage broker is a qualified individual who has FCA permission to give advice on regulated mortgage contracts. What are the advantages of using ...

The estimated value that a property would sell for at the current time on the open market.