Commercial and Business Real Estate in High Wycombe

novation
A release of liability to a first borrower of the loan, and a substitution of the subsequent borrower with a lender's approval.

second mortgage
A second loan placed upon the piece of property.

tuck-point
The process of removing old mortar from between bricks and replacing it with new mortar.

project budget
A fiscal outline which includes a construction budget and all costs for land, furniture, equipment, financing, professional services, contingencies, and owner-furnished goods and services.