| |
high
loan to value fee
-An insurance premium which insures the lender
against any loss of money if you default on your loan or get repossessed.
This usually applies only if you borrow more than 75 per cent of the price
asked for the property you are buying. Even though you have to pay for the
insurance premium, you must remember that you are not covered by the
insurance, the lender is. Commonly known as indemnity guarantee premium.
holiday home
- a property which will not be your main address or
place of residence.
home
improvements
- works carried out to improve your home. Mortgage
interest relief used to be given on loans for home improvements in the same
way as for house purchase. Loans taken out before its abolition still
receive this relief but this is lost if you move lender.
homebuyer's valuation fee
- the fee paid for a fuller inspection of the
property you are thinking of buying which is more thorough than the normal
lender's valuation. This is frequently referred to as an Option 2 valuation
fee.
house
or flat buyer's report
- a more thorough survey than the simple valuation
carried out on the property by the lender (although you still have to pay
for it). If your lender does not offer this as an alternative to the basic
valuation, you can negotiate with the surveyor carrying out the valuation
for the fuller inspection and this may cost you less than a separate
inspection.
Housing
Association
- a society, body of trustees or company which is
established for the purposes of providing, building, improving or managing,
or facilitating, or encouraging the construction or improvement of, housing
accommodation. It does not trade for profit. Anyone wanting help with
housing puts his or her name down on the housing association list which acts
in the same manner as council house lists. See
shared ownership. |
H
high loan to value fee
holiday home
home improvements
homebuyer's
valuation fee
house or flat
buyer's report
housing association
Introduction
|
