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Abacus-money Jargon

M

Main Residence

The property in which a person resides for the majority of the time. Also known as the 'principal private residence', it can often be important for tax purposes.

Mortgage

A legal document that pledges a property to the lender as security on a loan.

Mortgage Deed

A legal document establishing a mortgage on a property.

Mortgage Offer

A document issued by a lender confirming how much they will lend including the terms and conditions for the mortgage.