M

Management Company/Agent

A company appointed by landlord to collect ground rent, service charge and in some cases insure, repair and maintain property. Usually in relation to leasehold property.

Memorandum of Sale

This is issued by the estate agent which shows details of property being sold, for how much, by whom and who is buying.

Mortgage Administration Fee

We will charge this fee if you are buying the property with a mortgage as we will have to advise you on the details of the mortgage, obtain search results to satisfy your new Lender, contact the Lender for release of monies in order to complete the transaction and also register relevant documentation at Land Registry for the Lender too.

Mortgage Deed

Document signed by person(s) taking out a mortgage agreeing to the mortgage lenders terms & conditions.

Mortgage Lender / Mortgage Provider

The financial organisation that lends you the money to purchase your property sometimes called the mortgagee.

Mortgage Offer

Document issued by your mortgage lender highlighting amount of borrowing, interest payable, monthly repayments and mortgage terms and conditions. Any special conditions will be contained within the mortgage offer. You need to read these when you receive them as you will be bound by them.

Mortgage Redemption Fee

We will charge this fee if you have a mortgage on the property you are selling as we will have to contact your Lender to obtain a redemption figure, obtain signed and sealed documentation from them and also register this documentation with the Land Registry.

Mortgagor

Another name for a borrower under a mortgage.