F

Failed Valuation Survey
When a lender turns down a mortgage application as a result of the surveyor's report.

First Time Buyer
Buyers who have not previously purchased a property.

Fixed Rate Mortgage
Mortgage with interest rates initially 'fixed' for a defined period.

Fixtures & Fittings
Those non-structural items in a property that should be listed to be included in a sale.

Flying Freehold
Where part of a freehold property overhangs a different freehold property or land.

Freehold
Absolute ownership of both a property and the land on which it stands indefinitely.

Full Structural Survey
Detailed report on construction and any defects of a property, following a thorough inspection carried out by a Chartered Surveyor.