Jan 242023
Real Estate and Financial Terms Under Letter ‘IJK’ – Australian Real Estate

These are some of the most commonly used terms in Australian Real Estate, Finance and Mortgage Broking.

Buying, selling or renting property in Australia and having trouble understanding what they’re saying? To help you figure it out, we’ve created brief explanations of the words used. For more complete information, see your local real estate agent, financial advisor or solicitor.

A  B  C  DE  F  GH  IJK  L  MN  O  PQ  R  S  T  UVWXYZ

– I –
inclusionsItems included with the property such as light fittings, a refrigerator, or a pool table.
interestThe fee charged by the lending body for borrowing money.
interest only loanA loan where only the interest is repaid throughout the term of the loan. The original principal is repaid at the end of the term.
interest rateThe rate of interest in effect for the monthly payment due.
introductory loanA loan offered at a reduced rate for an introductory period to new borrowers.
inventoryA list of items included with the property such as furniture and movable items.
investment propertyA property that is not occupied by the owner but purchased for the sole purpose of earning a return on the investment, either in the form of rent or capital gain.
— J —
joint tenancyA form of co-ownership that gives each tenant equal shares and rights in the property. If one party dies, their share passes to the surviving owners.
— K —
key tenantA major or primary tenant in an office building or shopping centre.
kickbackPayment made to someone for referral of a customer or business. In general, kickbacks are illegal because they are made without the customer’s knowledge.

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