00:00I honestly have no clue what you just said.
00:05It's official. When it comes to first-time buying, the nation is left baffled with mortgage jargon such as annual
00:10percentage rate and conveyancing.
00:12I don't know what you mean.
00:14I beg your jargon.
00:15So, we're asking the nation to see if they can understand and decipher property lingo.
00:19Yeah, I do believe there is a lot of jargon surrounding the mortgage and properties.
00:24I think there's a lot to be said for speaking plain English.
00:27It's really confusing.
00:31A joint borrower sole proprietor mortgage.
00:34Mortgage by yourself? Mortgage for someone else?
00:37A joint? Is that like when you do it with a partner?
00:39One person is solely responsible for something.
00:42Like borrow money with someone?
00:48A shared ownership mortgage is probably the same but you both have equal rights in the house.
00:52I think that's when the housing association or the building company that build the property,
00:59retain part ownership.
01:01Don't have a clue.
01:05Help to buy mortgage.
01:09I think the government have got something to do with that.
01:11Is that why your parents help you to buy?
01:13Maybe.
01:14The government helps you add some funds towards the mortgage.
01:19It is so confusing.
01:20The terminology is...
01:22I don't even know what half the words mean.
01:24I don't understand what they just told me apart from the last one.
01:28It's all confusing.
01:29I don't know.
01:30Whatever happens with a plain English campaign?
01:32I'm not sure why it is but I think it could be made simpler.
01:34I think it puts people off.
01:36Yeah, I think we should simplify it and we should be taught about it as well
01:39because we're not taught anything like that so it's very intimidating to have to approach it yourself.
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