Technical Terms Used In Mortgage Agreements
If you are unsure about any part of your mortgage agreement, it is essential that you contact your solicitor. However, it you just need a simple explanation of some of the terms they use to describe the mortgage contract you may check down this list for a simple description of a word or phrase. APR, is an abbreviation of the phrase 'Annual Percentage Rate' and will represent the figure that is the total amount you are being charged for the credit. Assignment, this is where legal rights to a property transferred to a third party such as a mortgage lender. Certificate of Title, is a document that will be prepared by a solicitor for the land, confirming all the details are in order prior to completion. ...
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