Real Estate / Business Glossary
"F" Dictionary Definition - What is a :
Fixed Interest Rate
This means the interest rate on a loan is set for a certain period of time and will not go up or down.
Fixtures and Fittings
Items of property that are attached to the house or business because they are permanently attached in some way (by nails or wires for instance). Examples are the stove or oven, built in furniture, light fittings, fitted carpets and TV aerials.
Floating Interest Rate
Where the interest rate on a loan can go up or down as the market changes. Sometimes also called a variable interest rate.
A franchise is essentially a business clone. The franchisor has developed a system for reproducing his business (often right down to the last detail). As a franchisee, you rent the franchisor's trademark and method of doing business. The method of doing business involves a standardised approach to delivering a product or service.
Freehold is the most common type of property ownership. If you have the freehold of property or land, you own it indefinitely. Freehold is also commonly used to mean that you donít owe any money on the home or business.
Freehold Going Concern