Glossary · GB
Repayment Mortgage
A mortgage whose monthly payments cover both interest and a portion of the capital, so the loan is fully repaid by the end of the term. Also called a capital-and-interest mortgage.
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Around this term
Related terms.
Amortisation
The gradual repayment of a loan's capital over its term through scheduled instalments, steadily reducing the outstanding balance.
Interest-Only Mortgage
A mortgage on which monthly payments cover only the interest, leaving the capital to be repaid in full at the end of the term — common for high-value and investment lending.
Additional Property Surcharge
An additional SDLT charge that can apply when an individual purchases an additional residential property, subject to the applicable rules and exemptions.
Adverse Possession
The legal process by which someone who has openly occupied land they do not own for a qualifying period may apply to become its registered owner. Colloquially 'squatter's rights'.
Asking Price
The price at which a property is initially offered for sale by the seller. The final transaction price may be higher or lower.
Assured Shorthold Tenancy (AST)
The most common form of residential tenancy in England and Wales, giving the landlord a right to possession after a fixed term subject to proper notice.
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