|Mandatory Grounds For Possession||
Grounds that may be cited in possession proceedings which, provided the correct procedures have been followed and notices given, require the court to grant possession.
In brief the mandatory grounds cover situations where:
The value assigned to a property/land as driven by local, national and global economic forces. This is the maximum value a buyer is deemed willing to buy at and the lowest value a selling willing to sell.
|Monetary Policy Committee||
Bank of England committee that sets UK base interest rates or Repo rate, and a benchmark for other interest rates such as personal loan, mortgage interest rates.
The MPC meets monthly and comprises the Governor of the Bank, the two deputy governors, the Bank's chief economist, the executive director for market operations and four external members appointed directly by the Chancellor.
A mortgage advance is the total amount of loan actually provided to the buyer, by the lender.
The offer from a lender to actually provide you a loan and sets out the conditions by which it is offered.
|Mortgage Payment Protection Insurance||
Covers all or part of your monthly mortgage payment, plus an extra amount to cover mortgage related expenses, for up to 12 months should you lose your income through an accident, sickness or unemployment
The interest rate to be applied to the mortgage loan.
The lender of the loan in a mortgage agreement.
The borrower of a loan in a mortgage agreement.
Member of the Royal Institution of Chartered Surveyors