Mortgage Glossary: L

Glossary of Terms
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Leasehold Leasehold property differs from freehold property in that it is only owned for a certain term rather than forever.
Leasehold Valuation Tribunal The Leasehold Valuation Tribunal is an official body that deals with disputes over service charges and the purchase of leasehold property by tenants who hold long leases.
Loan to Value (LTV) Loan to Value is the mortgage set against the value of the house and expressed in a percentage. This is the mortgage amount – the value less the deposit.

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