Commercial finance glossary.
The increase in value of two separate properties or two separate interests in the same property arising by virtue of common ownership.
Higher risk, less well secured debt. Mezzanine debt usually attracts a higher rate of interest than senior debt.
MIG (Mortgage Indemnity Guarantee)
A one-off payment when taking out the mortgage which acts as an insurance policy to protect the purchaser against the value of the business falling to less than the mortgage.
A loan to buy a property where the property is used as security against the loan.
The company lending you the money.
The person taking out the mortgage.