Progressive's  'Jargon Buster'

Baffled by words and phrases you've never come across before?

Here are some straightforward explanations that should help you along the way of the house purchase path

Large Text , Braille and Audio Tape versions of our brochures are available on request

 

Administration Fee	Household insurance
Advance	Income multiplier
APR	Initial Disclosure Document
Arrangement Fee	Interest-only mortgage
Arrears	ISA
ASU	Key Facts Illustration (KFI)
Bank of England base rate	Land Registry Fee
Building Society	Leasehold
Buildings insurance	Licensed conveyancer
Buildings survey	Life Assurance
Capital	Local authority search
Capital Repayment	LTV - Loan to Value
Capital and interest mortgage	Member
CCJ	Mortgage Advance
CML	Mortgage deed
Completion	Mortgage term
Contents insurance	Mutual organisation
Conveyancer	Negative equity
Conveyancing	Overpayment
Deposit	Portable mortgage
Disbursements	Pension mortgage
Discounted rate	Premium
Early Repayment Charge	Redeem/redemption
Endowment Policy	Re-mortgaging
Equity	Repayment mortgage
Exchange of contracts	Repayment vehicle
Financial Services Authority (FSA)	Sealing fee
First charge	Searches
Fixed rate	Stamp duty
Freehold	Standard Variable Rate (SVR)
Further advance (Additional Borrowing)	Structural survey
Guarantor	Valuation
Higher lending charge	Variable base rate
Homebuyer's Survey & Valuation Report	Vendor