Underwriting

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)

The lender’s process of assessing a mortgage application to decide whether the case fits its lending criteria and risk appetite.

Related glossary terms

Qualifying Property

An eligibility concept describing property meeting specific conditions attached to a relief or scheme, varying by context.

Mortgage Deed

The legal document that creates the lender’s security over the property, allowing the mortgage to be registered as a charge on the title.

Yield (Rental Yield)

A measure of the income return on a buy-to-let or investment property, usually expressed as a percentage, calculated gross or net of costs.

First-Time Buyer Relief

An SDLT relief that can apply when a buyer is purchasing their first residential property in England or Northern Ireland, offering a £300,000 nil-rate threshold.