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Basic Variable Mortgage Rate: this is the standard rate of interest charged by a mortgage lender, who, taking into consideration any influential economic conditions, may, at times, increase or decrease this rate accordingly.

Beneficial Owner: person owning land and entitled to it for his own benefit. Not, for instance, a trust that holds the land for the benefit of another.

Bridging Finance: a purchaser under certain circumstances may wish to complete the purchase of a property whilst still offering his own for sale. Lenders will advise as to whether the necessary temporary finance can be made available and the purchase can go ahead earlier. Some people use this means for a few days to enable them to move from property a to property b over a couple of days.

Building Survey (Formerly Full Structural Survey): this is an examination of a building by a surveyor in order to produce a full report on the structural integrity of the property as well as its state of repair. Although all houses should be surveyed, and, indeed, many mortgage providers require it, it is particularly useful for older properties, those in a state of disrepair, those that have been extensively altered or extended, or any property that you may wish to alter or extend yourself.