Financial Services Authority (FSA)
An independent body that regulates the financial services industry in the UK.
Fixed rate mortgage
A mortgage in which the interest rate is set for an agreed period of time.
Fixtures & fittings
All non-structural items included in the purchase of a property.
An arrangement whereby you can increase or decrease your mortgage.
This can occur when first floor accommodation forming part of one freehold is located over ground floor accommodation forming part of another freehold. The first floor freeholder does not own the land beneath the property, and is then said to own a “flying freehold”.
Forced Sale Value
A price one would expect to obtain for a property on the open market without delay, assuming that a normal or reasonable amount of time is not available in which to market that property.
Where the owner of the property also owns the land on which it is built.
Furniture and Furnishings (Fire) (Safety) Regulations 1988 & (Amendment) 1993
Regulations that require all domestic upholstered furniture, furnishings and other products containing upholstery in a property to be certified as compliant.