Jargon Buster

A B C D E F G I J L M N O P R S T U V Y

Re-Mortgage

Refinancing of a property.

Redemption

When a mortgage is fully repaid.

Repayment Mortgage

A mortgage in which monthly charges are used to repay the interest and reduce the outstanding capital.

Repossession

When the mortgage lender takes possession of a property due to non-payment of the mortgage.

Retention

The ability of a lender to hold back (retain) part of a mortgage until certain conditions are met.