Mortgage Jargon

Like any other legal system, the mortgage business sometimes uses confusing jargon. Below are some terms explained in brief. If a term is not explained here it may be related to the mortgage loans rather than to the legal process.

Conveyance

This is the legal document that transfers ownership of unregistered land.

Disbursements

These are all the fees of the solicitors and governments, such as stamp duty, land registry, search fees, etc.

Freehold

This means the ownership of a property and the land.

Land Registration

This is a legal document that records the ownership of a property and land. This is also known as a Title.

Leasehold

This means the ownership of the property and land for a specified period, which may be sold separately from freehold, which may be owned by another person.

Legal Charge

This is a legal document that records the data of the rightful owner of a property or land.

Mortgage Deed

This is a legal document that stated that the lender has a legal charge over the property.