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JARGON BUSTER

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Valuation

This is carried out by a Valuer who will assess the value of property and to ensure that it is worth at least its asking price for mortgage purposes.

Variable Base Rate

This is a mortgage interest rate that can change over the term of the loan depending on the rates of the Central Bank, meaning the monthly payments can go up or down in a given period.

Vendor

The term for the seller of the property.


WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY LOANS SECURED ON IT.