Capped Mortgage
A mortgage with a maximum interest rate above which the rate cannot rise.

Capital
The amount that you borrow to help buy a property.

Cashback Mortgage
A mortgage that comes with a cash lump sum (often a percentage of the amount that you borrow).

Collared Mortgage
A mortgage that has a minimum interest rate below which the rate cannot fall.

Contribution/Deposit
The amount of money you put into buying a home (excluding the mortgage money that you are borrowing).

Contents Insurance
Household contents insurance covers your personal belongings and household possessions against loss or damage. This includes furniture, domestic equipment, electrical appliances, furnishing, clothing, food and drink, some valuables and cash up to a certain limit.

Credit Reference Agency
An organisation that holds financial details or individuals and produces a credit report about a specific person, enabling lenders to decide whether to lend money to them or not. Two of the most widely used credit reference agencies are Experian (www.experian.co.uk) and Equifax (www.equifax.co.uk).

Credit Report
Most lenders require a credit report from a credit reference agency to enable them to assess the borrowing capability of mortgage applicants. This report assesses whether you are able to make the necessary payments for the requested mortgage.

Credit Score
Often part of a credit report, a credit score is a number used to categorise your credit worthiness. There are several commonly used scales which provide a simple way for lenders to assess applicants.