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| Land Registry The Land Registry holds the ownership records of all registered land and property. Also it holds all information on any mortgages, charges, cautions, restrictions or covenants on all registered land and property. Land Registry Fee A fee, which is incurred when the property is registered at the appropriate Land Registry (usually by a solicitor). Legal Fees These are charged by a solicitor to their clients, for the work carried out in the conveyancing transaction. Let to Buy A borrower lets out their current residential home to a tenant who pays them rental income, thus turning that into an investment property. The borrower then purchases another property as their residential home. Loan to Value (LTV) The ratio of the total mortgages/loans secured on the property against the lower of the purchase price or current market value e.g., if a property is worth £100,000 and has a £70,000 mortgage on it, the LTV is 70%. |