Debt Consolidation Loans Glossary

F.


Factor Valuation.

A method of valuing a property through paper indexes (tables that give the percentage of rise in value for certain areas since different years) rather than a surveyor visiting the property. It is done by using the purchase price of your property, this price is multipied by a percentage rise suggested for the year you purchased.

A common form of land ownership which is registered at land registry. It is the purest and most secure type of ownership and denotes permanant ownership that can legally be passed on to heirs. It is also referred to as "freehold"

The main type of land tenure in Scotland.

A person who can advise you on your finances. Independant Financial Advisers can usually search the market place for products that best suit you, it saves you doing the legwork, but it will cost you money as the adviser will usually charge you a fee for their service.

A mortgage that takes priority over any subsequent secured lending if the borrower goes into default and their assets have to be sold to pay creditors.

A mortgage where the lender arranges a credit line which grants the home owner the opportunity of borrowing against the built up equity in the property. These mortgages can also sometimes offset any savings or other borrowing against the mortgage, all under the one mortgage rate.

A common form of land ownership which is registered at land registry. It is the purest and most secure type of ownership and denotes permanant ownership that can legally be passed on to heirs. It is also referred to as "fee simple"

Benefits to employees additional to salary. Typical examples would be company cars, expense accounts and private medical insurance.

An extensive survey of a property.