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Glossary of Mortgage & Repossession Terms - R

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Retention

This is when a lender holds back or 'retains' part of the agreed mortgage until certain conditions have been met, for example receipt of warranties, carrying out of repairs or improvements, or, for new-build properties, reaching a key stage in the building program.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

The overall cost for comparison is 7.9% APR. The actual rate will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Our fee will depend on your circumstances, and indication is £1995. Evict Stop is a trading style of Nelson Finance Ltd (04483998), 96-98 Liverpool Rd, Kidsgrove, Stoke-on-Trent, Staffordshire, ST7 4EH. Calls to 0870 numbers are charged at national rates.