Today's best mortgages
Jargon buster
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Negative Equity
A situation in which the value of a property has fallen to below the level of the loan secured on it.
Net Profit
Relating to a self-employed person, net profit is income after running expenses and taxes have been deducted.
New Build
A newly built property.
No Capital Raising
Term used to describe a remortgage, which is exactly the same size as the mortgage it replaces.
No Income Verification
Situation in which a mortgage is taken out without the need for the borrower to prove income. See also Stated Income.
No/Low Fee Mortgages
A mortgage in which the usual fees - arrangement charges, booking fees and valuation fees - are either reimbursed to the borrower or paid by the lender. See also "Fees Free."
Non Contributory Pension
A pension scheme normally funded by an employer and into which an employee does not have to pay.
Non Status Mortgage
A mortgage that is offered without the need for the borrower to prove their income.
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