Mortgage Glossary
There is a lot of ‘jargon’ used in the mortgage industry.
We have tried to provide you with a comprehensive explanation of all the terminology that you may come across during the mortgage process
Higher Lending Charges
This is the term used for the lenders’ insurance against you defaulting on your payments when your property is worth less than the loan or in some cases this charge is payable when you are only able to pay a small deposit. There are many mortgages that do not carry this charge and based on your situation it is possible that this type of charge can be avoided altogether.