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Redeem
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To repay a mortgage or other
debt.
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Redemption Figure
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The amount of money required
to repay a mortgage.
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Redemption Statement
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A statement provided by a
mortgage lender showing the amount required to repay a mortgage at a particular date.
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Rent
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A periodic payment made by a
tenant to his landlord.
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Restrictive Covenant
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A covenant which restricts the
use of land, which is binding not only upon the current owner, but also upon future
owners of the land.
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Restrictive Covenant Insurance Policy
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Insurance to protect the
owner/mortgage lender against a breach of a restrictive covenant, eg. where there
is a house on land which is subject to a covenant not to erect any building on it.
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Roll Number
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A borrower’s account number
with a mortgage lender.
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