Main residence
The normal place of residence i.e. home.

Maintenance payments
Money paid or received under a court order in respect of a previous partner or child.

Maisonette
Property consisting of more than one separate dwelling. Also used to describe a flat which extends over more than one floor or a flat which, despite being other units in the building, has its own street level entrance.

Mortgage indemnity guarantee premium
Also known as MIGP. See high loan to value fee.

Mortgage
A loan secured by land.

Mortgage deed
Legal document explaining a loan on property.

Mortgage subsidy
Payments made by an employer to subsidise the cost of interest payments on a home loan. The amount and extent of the subsidy will vary from each employer and can be calculated in a variety of different ways. It is advisable to seek an exact account from your employer on this arrangement.

Mortgage term
The length of time before the mortgage loan must be repaid.

MPI
Mortgage Payment Insurance - Insurance cover to protect your mortgage payments.

Multipliers (income)
Equation applied to a borrower's income in order to calculate how much they can borrow.