Credit and Mortgage Dictionary: Q
Quotation
A detailed document itemising costs, fees etc. Which will be incurred in taking out the specified loan.
Quotation Regulations
Advertising regulations these are the rules laid down under the consumer credit act 1974 and controlled by the secretary of state. The advertising regulations control all loan advertising and are enforced by local trading standards officers.
Quotations
A quotation […]
Credit and Mortgage Dictionary: R
Redemption
This is paying off the mortgage, either to move to another property or at the end of the mortgage term.
Redemption Charges
These are any charge levied by the lender when the mortgage loan is repaid before the end of the full term. See also early redemption penalty.
Redemption Statement
The outstanding amount to be repaid on an existing […]