HIGHER LENDING CHARGE (HLC)
A fee that many mortgage lenders will make you pay if you want to take out a large mortgage relative to the property's value. Some banks and building societies impose the charge if you want to borrow more than 90% of the property's value, others if you want to borrow more than 95% and some don't impose a higher lending charge at all.

HIRE PURCHASE
A credit agreement that's often used for buying a car. The rules and regulations around hire purchase are more complicated than for many types of finance. Under the rules, you don't own the goods until you have made the last payment and you have the right to hand them back once you've paid 50% of the total amount you owe under the agreement.

HOME INFORMATION PACK (HIP)
A set of documents that sellers of all houses and flats in England and Wales have to provide for prospective buyers. The pack includes details about the property being sold, local authority searches and an energy performance certificate.

HOME REPORT
Properties in Scotland must have a home report when they are put up for sale. The home report includes a survey, an energy performance certificate and a property questionnaire.

HOME REVERSION
A type of equity release scheme where you sell all or part of your home in exchange for an income or a cash lump sum. It can be an expensive way of releasing cash from your home and the younger you are the less you will receive. The debt is repaid when the homeowner dies.