Informed Landlords Glossary: Lender

The lender can be described as the institution or person that gives finance to a buyer to purchase a certain good. The lender within property is usually a bank or building society that through a mortgage will lend money over a prescribed period of time.

A lender will wish for certain items to be in place before and during the landlords mortgage term, such as keeping the building insured, paying the sums due at the prescribed date and keeping within the terms of the agreement.