GLOSSARY - N
NHBC Buildmark Warranty |
National House Building Council is a non-profit making body, which inspects new properties, checks the builder is registered and if the property meets their standards. |
Negative Equity |
The value of a property is below the amount of the loan taken to purchase it. |
Non-Status Mortgage |
Mortgage provided by lenders without any proof of mortgage history. |
GLOSSARY - O
Overpayment |
Overpayment is done when mortgage lender is paid more each month than the fixed required monthly repayment. |