Land Registry Certificate
Provides details of the property including a plan and, if the property is leasehold, a copy of the lease.
Land Registry fee
A fee paid to the Land Registry to register ownership of a property.
Latest completion date
Fixed or variable rates that you choose when you apply are only available for a certain period of time and you must be able to start your mortgage before this date.
The right to possession, but not ownership, of a property for an agreed period of time. Ultimate ownership remains with the freeholder.
The bank/building society who lend you the money to buy your property.
The person to whom a lease is granted - the tenant.
The person who grants a lease - the landlord.
An insurance policy that pays a lump sum on death. Often taken out with a mortgage to provide money for the loan to be repaid if the borrower dies during the term.
Loan to Value (LTV)
The size of a mortgage as a percentage of the value of the property or its purchase price.
Local authority search
Questions to the local authority regarding plans for new road building, planning permission for any building work previously carried out, connection to the mains sewer, etc.