• Rachael Panteney

The A-Z of Mortgages - B

Updated: Jan 6

We know how confusing mortgage jargon can be, so here we are with B from our A-Z of mortgages. Find the full glossary on our online blog (link below).


B is for...




Base Rate – Or to give it the full name, Bank of England Base Rate. This is the rate set by the Bank of England and sets the level of interest that banks charge for borrowing and pay for saving. The purpose is to regulate inflation. The current Base Rate (as of 20th August 2020) is 0.10%, which is the lowest it has ever been – it was reduced to this 19th March 2020.






Booking fee (also see arrangement fee) – If they are called booking fees, they are more likely to be payable upfront and be non-refundable.











Buy-to-Let – A type of mortgage that allows a property to be bought for the specific purpose of letting it out to tenants. These tend to be at higher rates than residential mortgages and Buy to Let mortgages are unregulated.









Buildings Insurance - an insurance policy that covers the financial cost of repairing damage to the physical structure of a property in the event of damage or theft. This includes the roof, floors, and walls, as well as any fitted or permanent fixtures (i.e. a fitted kitchen). The cause of the damage is important. A typical policy will cover the holder from damage which is out of their control, and may include the following: Flooding, Fires, Malicious damage and vandalism, and Storm damage..


Stay tuned for C coming soon, or visit our online blog for the full A-Z glossary here...

https://www.willowtree-fs.co.uk/post/a-z-mortgage-glossary For more in depth information, please contact us or call Rachael on 01323 436680 and book a FREE initial consultation today.

Willow Tree Financial Services.

A6 Chaucer Business Park,

Dittons Road, Polegate.

East Sussex, UK.

BN26 6QH

01323 436680

rachael@willowtree-fs.co.uk

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested. Your home may be repossessed if you do not keep up repayments on your mortgage. 
 

The Financial Conduct Authority does not regulate Will Writing & Estate Planning.

Willow Tree Financial Services is a trading style of Rachael Panteney, an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority.

The information and content within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

Privacy Policy

© 2020 by Willow Tree Financial Services. Proudly created by AMME.

Image Disclaimer: All images shown are for illustration purposes only and are not pictures of actual clients.

For reliable financial advice that is accessible to everyone; from mortgages to pensions, and everything in between.

 

We pride ourselves on our friendly and professional service and use our extensive market knowledge and experience to deliver a client-first approach, as standard.

Clicking the links below will depart you from the regulatory site of Willow Tree Financial Services. Neither Willow Tree Financial Services nor Quilter is responsible for the accuracy of the information contained within the linked site.

  • Facebook - White Circle
  • Instagram - White Circle