Mortgage Dictionary: N

New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Financial Services > Mortgages > Glossary > Mortgage Dictionary: N

Mortgage Dictionary: N

Please view the glossary definitions from our list below. Some terms have a dedicated page with a longer definition. This is available by clicking on the "more about " link.

Nationalisation	This is the act of a national government taking public ownership of an asset. The nationalisation of Northern Rock took place in 2008, after it was severely affected by the credit crunch in 2007/2008.
Negative Equity	A situation that occurs when the amount loaned against a property is in excess of the market value of the property.
Net Monthly Repayment	Monthly repayment made to the creditor.
Net Profit	The income of a company or self employed business after making full allowance for the expenses of running the business. This should be the amount available to the owners of the business for their own benefit. It is the figure that can be used to calculate their ability to service a mortgage.
Net Profit Declining	This is where the net profit from a business decreases from one year to the next. Many lenders will not lend in this situation, as in the near future, the business may be unable to provide sufficient income to cover the cost of loan repayments. Capital raising remortgages are especially avoided in this situation as the borrower may be seeking funds to shore up a failing business.
New Build	Refers to new properties developed on green field sites. Can refer to a single property or whole estates.
Non Status	A loan granted without making enquiries as to the borrower's income or credit history.
Not In Employment	Unemployed not in employment or receiving any regular salary.
Notice Of Default	A lender's initial contact when you have fallen behind on your credit repayments.

mortgages news
Brown says govt will help to pay mortgages - Thu, 04 Dec 2008
Mortgage lenders fail to pass on rate cut, research finds - Thu, 04 Dec 2008
Interest-only mortgages less popular, figures show - Thu, 04 Dec 2008
More News