Balance
A one off figure that indicates the amount of mortgage left to pay off.

Bridging Loan
A type of loan used to fill a gap in time between the purchase of one property and the sale of another. A bank may provide this form of temporary loan to allow you to buy a property before you have sold a previous property. Interest rates are notoriously high for this type of loan.

Buildings Insurance
Buildings insurance covers the cost of damage to the structure of your property, including the roof, walls, ceilings, floors, doors and windows.

Buildings insurance also typically covers permanent fixtures and fittings, interior decoration and underground tanks, pipes, cables, and drains for which you are responsible from your home to the mains supply.

Your buildings insurance should cover the full cost of rebuilding the property.

Buy-to-Let Mortgage
A mortgage for a property that you intend to rent out to tenants.