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Bank of England - The central bank of the United Kingdom that convenes the Monetary Policy Committee and acts as the banker for the Government of the United Kingdom Bank of England Base Rate - The interest rate set by the Bank of England's Monetary Policy Committee each month Bankrupt - An individual or other entity who has been subjected to a Bankruptcy Order Bankruptcy - A situation in which a debtor's assets are worth less than their liabilities and their assets have been transferred to an administrator. Bankruptcy can affect a debtor's credit rating and ability to borrow for more than five years. Base Rate - See Bank of England Base Rate BoEBR - See Bank of England Base Rate Bridging Loan - A short term loan used to help buy a new home when the sale of the existing home is not yet complete Buy to Let - A situation in which a residential property is purchased for the purpose of letting it out to tenants Buy to Let Mortgage - A commercial Mortgage secured on a residential property that is let to tenants by the landlord |