| Body Corporate |
An incorporated company. Usually used for the administration of maintaining a group of strata title units. Eg Insurance, Maintenance. |
| Balance Sheet |
A detailed statement summarising the assets and liabilities of a business, giving a picture of its wealth at the time. |
| Balloon Mortgage |
A mortgage with periodic payments that do not fully amortise the loan. The outstanding balance of the of the mortgage is due in a lump sum at the end of the term. |
| Base Rate |
Financial institutions often publish their base rate, which is a guide for their lending rates. Loans are generally written at a margin above this, depending on the product and client. |
| Borrower |
The person requiring to borrow money from the financier. |
| Black |
When you are in "The Black" you have money in the bank or making a profit (red ink is used to reflect what you owe to the bank). |
| Blue Chip |
Highest market value of shares on the stock market. |
| Bridging Finance |
Short term finance provided usually when a client is transferring from one home to another and the new home is settling prior to the settlement of the current home. There is no payment of principal until the house is sold or the end of the loan term, whichever comes first. Interest payments may or may not be deferred until the house is sold. |
| Broker |
The person who, for a commission or fee, brings parties together and assists in negotiating contracts between them. |
| Brokerage |
Broker fee charged for successfully arranging a loan. Usually charged as a percentage of the loan amount. |
| Buydown Money |
Advanced by an individual (eg Builder, seller, buyer, lender, developer) to lower monthly payments for a few years or the whole term |
