The use of cookies

By navigating through this site, you consent to us collecting information using cookies. At any time, you can set your browser to notify you when a cookie is sent or to refuse cookies altogether, but certain features of this site might not work without cookies.

To find out more about cookies see our policy on Privacy and Cookies

Mutual Respect

From your local mortgage and savings experts

Request A Call Back

Mortgage Glossary

Mortgage Glossary

Welcome to our Mortgage Glossary. Here you will find definitions for more commonly used mortgage terms, making the jargon clearer. If you're unsure of any words or phrases, simply use the guide below.

Porting

Generally a mortgage product is 'portable'; which means that the terms and conditions of your current mortgage can be transferred to the mortgage on your new home. All our loans are currently portable. If there is an early repayment charge on your existing mortgage, your new mortgage needs to be for at least the same amount as the old one to avoid payment of a charge. If you do borrow less, you only need to pay a proportion of the early repayment charge. You still need to complete an application form because the mortgage is based on a new property and is subject to your current status and valuation.

Procuration Fee

If you arrange your mortgage through a mortgage broker, the lender will often pay them a procuration fee for arranging the mortgage with them. This can either be a flat fee or a percentage of the mortgage amount.

© Newbury Building Society

Tech Help  |  Accessibility  |  Contact Us  |  Connect  |  Site Terms  |  Site Map  |  Privacy

Newbury Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number 206077). Registered office: Newbury Building Society, 17 Bartholomew Street, Newbury, Berkshire, RG14 5LY.

English law applies and we will communicate with you in English. We are participants of the Financial Ombudsman Service. We have a complaints procedure which we will provide on request. Most complaints that we cannot resolve can be referred to the Financial Ombudsman Service.

You can check the Financial Services register on the FCA's website.

Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Savings   Mortgages   Insurance   Other
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back
Close

Request a Call Back

Swoosh

Speak to one of our expert advisers on
01635 555777  or request a call back:

Name:
Phone:
Email:
Reason for Call Back: Existing Mortgage   New Mortgage  
Local Branch:
Preferred Day to Call:
Preferred Time of Day:
On Saturdays we are only able to call in the morning due to branch opening times.

We will only use these details for the reasons requested.
 
Are you human? Please enter the text below into the box
captcha image
Click here to get a new image
Call Back