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Jargon Buster - B

A B C D E F G I J L M N O P R S T U V Y

Bridging Loan

A short-term loan that is used until a person or company secures permanent financing or removes an existing obligation. This type of financing allows the user to meet current obligations by providing immediate cash flow.

Building Survey (formerly full structural survey)

A Building Survey is a comprehensive inspection of a property. Its suitable for all properties, especially; Listed buildings, Older properties, Buildings constructed in an unusual way, Properties you plan to renovate or alter in any way, Properties that have had extensive alterations. It examines all accessible parts of the property - and you can ask to have specific areas included, so it covers any particular concerns you have about the building.

Buildings Insurance

Covers the fabric of the actual building and if you own property that you rent out you must insure the building. Any mortgaged property will require a buildings insurance policy to protect the building.

Buy-To-Let Mortgage

A mortgage used to buy property that you intend to rent. It differs from a mortgage on property that you intend to live in, in that the mortgagee takes into consideration the income the property will produce in deciding how much to lend.

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