fast track mortgage
- are a type of self-certification mortgage. Neither requires proof of income but the difference with fast-track mortgages is that lenders reserve the right to ask for proof.

fee
- amount charged by a lender, broker or other intermediary for arranging a mortgage or property purchase. See sub menu.

feuhold
- equivalent of a freehold under Scottish law.

Financial Services Authority (FSA)
- An independent body that regulates the financial industry in the UK. One of their aims is to help consumers become better informed about financial matters.

first charge
- normal legal charge used to secure the main mortgage. A lender with a first legal charge over a property has a first call on any funds available from the sale of the property. See also: second charge.

first time buyer
- person wishing to purchase a property for the first time. Some lenders offer preferential lending terms to first time buyers. A borrower who has owned a property before but has sold this prior to buying again may be offered first time buyer terms by some lenders. However, this will vary on a lender to lender basis.

fixed rates
- a loan where the initial payments are based on a certain interest rate for a stated period and the rate payable will not change during that period regardless of changes in the lender's standard variable rate. With this type of mortgage product the borrower will typically be liable for early repayment charges if the loan is repaid within a set period.

flats
- see sub menu

flexi
-  an abbreviation for flexible. Flexible mortgages are offered by some lenders. A flexible mortgage allows you to make overpayments in order to repay the mortgage early or save for a special event.

flexible mortgage
-  a mortgage where the borrower can change the monthly payments and pay off part or the entire loan whenever he or she likes. It is normally linked to any interest rate type. Details vary from one mortgage to another, but for reporting purposes, to be classified as a flexible mortgage, the mortgage should have the following features: interest must be calculated monthly or daily; and must have an overpayment facility.

freehold
- land or property which is owned outright, as opposed to leasehold where the owner has the right to occupy the land or property for a given period of years only. See also: feuhold.

FTB
- FTB see First Time Buyer

full status
- a loan where complete checks are made on the borrower's credit history and income.