Tenants in Common

By Justin Whitelock

Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)

Co-owners who hold the property together but can own different shares in it, with separately inheritable shares.

Related glossary terms

Bridging Loan

A short-term loan designed to provide temporary funding, usually until a property is sold, refinanced, or moved onto a longer-term mortgage.

Deposit

The portion of purchase price contributed by buyers from their own funds rather than borrowing, typically paid through conveyancers.

Portfolio Landlord Mortgages & ICR

A portfolio landlord mortgage is a buy-to-let mortgage made to a borrower classified as a portfolio landlord under the PRA SS13/16. The classification applies once the borrower holds four or more distinct mortgaged buy-to-let properties, in aggregate across personal names and limited companies. Once that threshold is reached, lenders typically apply portfolio-wide assessment rather than

Source of Funds

Where money for transactions originates, requiring a clear paper trail showing how the money was built up and transferred.