B

Balance Outstanding
The amount of loan owed at a particular time.

Bank of England Base Rate
The Bank of England set a rate each month known as the 'Base Rate'. Banks and Building Societies use the Base Rate to set the interest rates they pay on deposits, or charge on debts.

Bridging Loan / Bridging Finance
A temporary loan advanced to help somebody buy a new property before they have sold their existing one.

Buildings Insurance
Insurance against the cost of rebuilding a property from scratch following structural damage, for example by flood, fire or storm.

Building Regulations
The health and safety requirements that any new construction must meet.

Building Society
A mutual institution owned by its investors and borrowers that provides a range of savings and mortgages.

Your home may be repossessed if you do not keep up repayments on your mortgage