Jargon Reference Guide


Failed Valuation Survey

Occurs when the lender turns down a mortgage application after the surveyor's valuation report indicates the property is not worth the sum sought.

Fixed Rate Mortgage

A mortgage in which the interest rate is set for an agreed period of time.

Fixtures & Fittings

All non-structural items included in the purchase of a property.

Flexible Mortgage

An arrangement whereby mortgage repayments can be increased or decreased.


Technical term describing the ownership of the property, meaning that it belongs to the owner without the limitation of time.