At YPI we will try our best to explain things as simple as possible; regardless if you for whatever reason still feel like this:

What you’ll find below are definitions of terms and sayings you may find in our articles, which should help things make sense. We will continue to update the list as we go but if there is anything we haven’t covered yet that you have come across, hit us up on our Facebook page or via email at

Word  Definition
Mortgage  Pretty much a legal agreement where a bank, building society etc lends money with interest in exchange for taking the title of the borrowers property until the debt is paid off. This legal document also protects the lender if you choose to skip a couple of repayments, where they have the right to take the property.
Home Loan The actual funds it self you are lent with an annual interest rate attached.
Interest What the lender charges you for the use of the funds, usually expressed as an annual interest rate percentage.
Title The ownership of real property
Title Deed A fancy certificate which indicates who owns the property; usually held by the lender until the loan is paid off.
Mortgage Offset Account An non-interest earning account usually an option given with most home loans where the balance of the account offsets the home loan to reduce the amount of interest you pay.
Settlement Date The magical date where legal documents are exchanged and the transfer of ownership from seller to buyer occurs. Its usually the date you can also stick a flag in your property and officially claim it as yours – Murica style (not recommended).
Debt Money that is owing.
Positive Gearing Where the rental returns are greater than the outgoings (ie home loan repayments, bills etc) and you end up with dollars in your pocket after all the bills are paid.
Negative Gearing Where the rental returns are less than the outgoings (ie home loan repayments, bills etc) and you are having to pay out of your own pocket.
Tax In the context of property, this is what you have to pay old mate, which is collected by the government through added costs to your bills and taken from income received.
Old Mate Another title for a member in parliament, that you may see from time to time in our articles – ‘Oi Mr Prime Minista!’ (brownie points for people who can remember where that reference is from – comment below)  



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