Jargon Buster

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There are 2 names in this directory beginning with the letter L.
This is where you own the property but not the land it is built on. As the length of the lease reduces this can affect the ability to gain a mortgage on the property.
Loan to Value, normally expressed as a percentage of the loan against the value of the house. For example if a property is valued at £100,000 and you require a loan of £90,000 then the LTV is 90%. Generally the lower the LTV the better the mortgage rate available.