Jargon Buster

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There are 3 names in this directory beginning with the letter S.
Shared Ownership
This is a type of mortgage where you buy part of a property and rent the remainder. These types of mortgage are generally available to people on low incomes to allow them to enter the property market.
Stamp Duty
This is a tax levied by the government on the transfer of the title of a property that is over a certain value, currently £125,000.
SVR
Standard Variable Rate. This is the rate of interest charged by a lender when the initial mortgage rate has ended.