Glossary D

A legal document stating an agreement or obligation regarding a property.

Deferred establish fee
Is a fee that is charged when you pay out your loan within a short period of time, usually up to four years.

When you fail to meet the mortgage repayment on time.

Deposit bonds
Banks and lenders provide deposit bonds as a guarantor that the full payment will be made by the due date. Deposit bonds are used when cash is not readily available for the deposit.

A decline in the value of a property or an asset.

Direct debit
A system where funds are electronically debited from your nominated bank/building society account.

Discharge fees
This is a fee that is charged when closing a loan account.

Disposable income
Any income that is left over after all expenses and bills have been paid.

Draw down
This provides access to available loan funds and usually refers to lines of credit.

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