Glossary Index

Mortgage terminology can be tricky to understand. Our mortgage glossary explains key terms and acronym’s that Pepper Money and other lenders use.

Shared Ownership Mortgage

This is a type of mortgage only available to First Time Buyers. You will buy a percentage of the property via a mortgage and then pay a subsidised amount to a housing association. Because the mortgage is smaller, the borrower usually requires a lower deposit, which can be challenging to save for.