D |
| Decision in Principle (DIP) Agreement from the lender that the mortgage is approved subject to satisfactory references and a satisfactory valuation report being received. Also known as Agreement in Principle (AIP) Deed A legal document, which affects the transfer of ownership of real estate from the seller to the buyer. Deposit The difference between the purchase price and the mortgage amount i.e. the capital that the borrower is putting towards the transaction. Disbursements Money spent by the solicitor on behalf of their client (seller/purchaser), in respect of land Registry Fees, Local Authority Searches, Stamp Duty etc. Discounted Rates The lender will give a discount of off their standard variable rate for a set period of time from completion OR until a set date. This means that if the lenders standard variable rate go down your pay rate will fall, but if the standard variable rate increases your pay rate will rise. |