First Time Buyer
Someone who has never before borrowed money to buy a residential property or land on which to build one. For joint-applications, both parties must fit this description in order to qualify as first time buyers. There are often incentives for first time buyers from the government and lenders, such as tax relief, grants and reduced interest rates.
Fixed Interest Rate
A rate of interest on a mortgage that doesn’t change for a specified length of time, known as the fixed period, which makes it easy to budget for payments.
Foreign currency mortgage loans
When some or all of your repayments are in a currency other than euro, or you live in a country outside the euro zone, or the European Economic Area.
Freehold
Indefinite ownership of the property and land you are buying. It usually refers to the land on which the property is built, which can have separate ownership from the property itself.