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Market rent

A rent that is determined by the state of the rented property market.

McKenzie friend

A person who is not legally qualified and sits with a party to proceedings in court to offer advice and assistance to her/him. Traditionally a McKenzie friend was not permitted to address the court, though often a judge will allow her/him to address the court.

Mental capacity

The ability of a person to understand and respond. A person is said to lack mental capacity in relation to a matter if at the material time he is unable to make a decision for himself. The state may be temporary or permanent.

Mesne tenant 

A mesne tenant is a tenant who rents accommodation from a landlord, and also rents part of that accommodation to a subtenant. Mesne is pronounced 'mean'.


Someone aged under 18 years old. A minor cannot hold a legal interest in land, and therefore cannot enter into a tenancy agreement.


A loan to purchase a land or property (such as a house or flat) that is then secured by a charge over the property. 

Mortgage deed

The legal contract that creates a mortgage between the lender and the borrower.

Mortgage indemnity guarantee (MIG)

A type of insurance that pays compensation to the lender (mortgagee) if the borrower (mortgagor) defaults on the mortgage and there is a shortfall on the mortgage when the home is sold . Many lenders insist that this insurance is bought if borrowing a large percentage of the value of a home. If the lender claims on the insurance, the borrower will be responsible for paying back the insurance company.

Mortgage term

The time over which a mortgage is paid off, agreed at the start of the mortgage. In most cases, it will be 25 years.


The person or business (usually a bank) making a loan that is secured on the property of the person (mortgagor) who owes the mortgagee money.


The person who has borrowed money and pledged her/his property as security for the money provided by the lender (mortgagee).


An application made by a party to the court, to request that the court does something.


One of three civil court ‘tracks’, which is usually used in cases with a value exceeding £15,000, or where the issues, evidence and estimated length of the trial are such that the two other tracks (small claims or fast track) are not appropriate.