Mortgage Terms H
It is provided for information only.
A to Z of mortgage terms
Higher Lending Charge
A payment to a lender for an insurance policy for the lender’s benefit when they lend above a certain percentage of the property value. The policy covers the risk of selling a repossessed property at a loss. (Previously referred to as Mortgage Indemnity Premium or lender’s risk fee.)
A surveyor’s report on a property which is less extensive than a building survey and is paid for by the purchaser.