An independent body that regulates the financial services industry in the UK.
A mortgage in which the interest rate does not change during the entire term of the loan.
There is no legal definition of what constitutes fixtures and what constitutes fittings, however, it is generally considered that fixtures are items that are secured or bolted to the walls or floor and fittings are free standing items.
With a Flexible Mortgage you are allowed to make extra payments when you have extra money available. Extra payments can be lump sum or extra amounts per month. Some flexible mortgages also offer the option of taking a payment holiday by building up a reserve of excess payments.
This can occur when first floor accommodation forming part of one freehold is located over ground floor accommodation forming part of another freehold. The first floor freeholder does not own the land beneath the property, and is then said to own a flying freehold.
Where the owner of the property also owns the land on which it is built.