Statement of Deduction of Tax

This will show you how much interest you have earned on your account during a specific tax year. These can be issued to you on written request and can be used when claiming any tax back from HMRC.

Standing Order

A standing order is an automated payment that you can set up from your current account. It will send a regular payment (normally monthly, quarterly or yearly) to the person or company you wish to pay. In the context of savings accounts, some will let you set up a regular standing order to your savings […]

Switching

When a customer moves to a new mortgage with the same lender, e.g. their fixed rate period ends and they move to a discount rate mortgage.

Stamp duty

Stamp duty land tax (SDLT) is payable when you buy a property for more than £125,000 (or £40,000 if it’s a buy-to-let property or second home).

Shared ownership

You buy a share of a property (usually between 25% and 75%) and pay rent on the remaining share, which is owned by the local housing association.

Service charge

If you are purchasing a Leasehold property, you are likely to be responsible for management and service charges. This information should be available from the selling agent or the vendor.