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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Down Payment

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The amount of the cash deposit that is put down by the borrower. For example, if the property is worth £120,000 and the loan is taken for £100,000 the down payment would have been £20,000. Some lenders will state a minimum percentage requirement as a down payment such as 10 or 15 percent.

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