Mortgage Terms B

 

It is provided for information only.

A to Z of mortgage terms

B
Balance

The amount you owe, after taking payments (credits) and any debits into account.

Bank of England base rate
The Bank of England ‘repurchase’ or ‘repo’ rate which is main factor influencing interest rates charges by lenders.

Buildings insurance
Covers the house you are buying against damage – take it out from the day you exchange contracts.