Welcome to the Finance glossary, we have made this glossary to make you more comfortable in finding and understanding the finance terms. This is brought to you by the  loan uk .

Use the A-Z alphabetical list to find definitions of key finance terms.Our aim is to provide the mostcomprehensive glossary of UK financial   terms on the internet

Main Residence

The normal place of residence. See also: holiday home and second home.

Maisonette

A property comprising of more than one separate living areas; used to describe a flat which extends over more than one floor or a flat that has its own entrance at street level.

Mandatory Products

Compulsive items in the financial package that you are purchasing.

Monthly Fee

A fee charged once a month.

Monthly Repayment

This is the amount you pay our lender each month toward the cost of the credit they have given you.

Mortgage

The name given to credit used to buy property or loan secured by land.

Mortgage Code

The regulations that mortgage provider have to stick to.

Mortgage Deed

Legal document establishing a loan on property.

Mortgage Indemnity Guarantee

See high loan to value fee.

Mortgage Subsidy

A payment made by an employer to subsidise the cost of interest payments on a home loan. The amount and extent of the subsidy will vary from employer to employer and these can be calculated in a variety of different ways.

Mortgage Term

Is the length of time before the mortgage loan must be repaid.

Mortgage Payment Insurance (MPI)

This is an insurance cover to protect your mortgage payments.

MTGS 

An abbreviation for mortgage multipliers (income) this is a factor applied to a prospective borrower's income to calculate how much the prospective borrower is able to borrow.

Margin

Using short-term borrowing within a brokerage account to buy securities.

Market capitalisation

The market value of a company which is calculated by multiplying the number of shares in issue by the current price of the shares.

Market maker

Dealers on the stockmarket who buy and sell stocks and shares on their own behalf to make a profit.

Maturity

Term used to describe the period when an investment comes to end, and, in the case of bonds, loanstock, or debentures, when the nominal capital is repaid to the holder. Also known as redemption.

Monetary policy committee (MPC)

The Monetary Policy Committee was set up in May 1997 by Gordon Brown the Chancellor of the Exchequer to decide the level of interest rates. The MPC is made up of nine members, the Governor of the Bank of England, the Deputy Governor and second Deputy Governor and six other members; two are from the Bank with responsibility for monetary policy and market operations. The remaining four members are "recognized experts" from outside the bank. The MPC meets every month to discuss and vote on whether to increase interest rates or not. The committee replaces the monthly meetings between the Chancellor and the Bank Governor that previously took place to decide the level of interest rates.

Mortgage indemnity guarantee (MIG)

An insurance which is designed to protect a mortgage lender against the risk of you defaulting or not being able to repay the mortgage. The policy is usually imposed upon by the lender at the start of the loan and the premium payable is determined by the level of perceived risk to the home lender of you defaulting on the loan.

Mortgage protection policy

A life insurance policy that pays off your mortgage if you were to die during the mortgage term.

Mutual funds

Pooled funds from investors for investment by an investment company in shares of other companies, in accordance with a stated set of objectives. Unlike investment trusts mutual funds are open-end funds where the investor may redeem his/her shares at any time at the prevailing market price.

Mutuality

Term used to describe an organisation owned by its members for their own benefit, e.g., Building societies and Insurance companies.

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