Main Residence
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The normal place of residence. See also: holiday home and second home.
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Maisonette
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A property comprising of more than one separate living areas; used to describe a flat which extends over more than one floor or a flat that has its own entrance at street level.
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Mandatory Products
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Compulsive items in the financial package that you are purchasing.
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Monthly Fee
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A fee charged once a month.
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Monthly Repayment
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This is the amount you pay our lender each month toward the cost of the credit they have given you.
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Mortgage
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The name given to credit used to buy property or loan secured by land.
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Mortgage Code
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The regulations that mortgage provider have to stick to.
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Mortgage Deed
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Legal document establishing a loan on property.
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Mortgage Indemnity Guarantee
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See high loan to value fee.
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Mortgage Subsidy
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A payment made by an employer to subsidise the cost of interest payments on a home loan. The amount and extent of the subsidy will vary from employer to employer and these can be calculated in a variety of different ways.
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Mortgage Term
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Is the length of time before the mortgage loan must be repaid.
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Mortgage Payment Insurance (MPI)
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This is an insurance cover to protect your mortgage payments.
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MTGS
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An abbreviation for mortgage multipliers (income) this is a factor applied to a prospective borrower's income to calculate how much the prospective borrower is able to borrow.
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