Form of alternative dispute resolution involving an agreed mediator acting as a facilitator to help the parties negotiate an agreement. The mediator does not adjudicate on the issues or force a compromise; only the parties involved can resolve the dispute. The result of a successful mediation is called a settlement.
An insurance policy that a mortgage lender may require the purchaser to pay if their loan is above a specified amount of the purchase price.
An expert in the economics and practice of mineral surveying, including the valuation and preparation of plans for the exploration and exploitation of minerals.
The cost of repairing and maintaining external and / or internal communal parts of a building, which are then charged to the tenant or leaseholder.
An interest given on land, in writing, to guarantee the payment of a debt or the execution of some action. It automatically becomes void when the debt is paid or the action is executed. The person lending the money and receiving the mortgage is called the mortgagee; the person who concedes a mortgage as security upon his property is called a mortgagor. The three types of mortgage are a legal mortgage (involving a transfer of the legal interest in the property), an equitable mortgage (by depositing the title deeds) and a judgment mortgage (following a court judgment).
The recipient of the mortgage.
The lender of a mortgage i.e. a bank or building society.
The upright dividing section of a window.