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					Word(s) :   Land registration - record listing a plot of land's registered owner and any legal charged attached to it. Lapse - The termination of an insurance policy because you haven't paid the premium(s) on it. Lapsed policy - An insured policy which has been terminated because you haven't paid the premium(s) on it. Lease - A contract by which the owner of property (which can be a building, a car, an item of machinery, etc) allows another person to use it, in return for rent being paid. Lease back - A method of raising money in which an organisation sells its land or buildings to an investor on condition that the investor will lease the property back to the organisation for a fixed term at an agreed rental. Lease hold - If you buy a property that is leasehold it means that you own the property but not the land the property is on. Legacy - A gift left in a will. Lender - The person or institution (most usually a bank or building society) that lends you money. Lessee - A person who is granted a lease - i.e. - a person who rents a property (or other type of asset) from someone. Lessor - A person or organisation who owns a property and rents it to another person or organisation, under the terms of a formal Lease Agreement. Level term assurance - a type of life assurance that pays out a cash lump sum if the policy holder dies during the term of cover. Level term insurance - A type of insurance policy where the amount of insurance cover provided by the policy remains the same from start to end. Life insurance - insurance where a policyholder's dependents receive a cash lump sum if he or she dies. Liability - A debt. Life insurance - A type of insurance which pays out a lump sum to your dependants if you die. Life insurance ISA - An ISA that allows you to invest in life insurance investments without paying tax on the money you make. Loss adjustor - An independent person who may be used by an insurance company to assess the value of a claim you make on your insurance policy. Low cost endowment - A savings plan that includes decreasing term insurance, a type of insurance policy where the amount that the policy pays out reduces over time. Lower earnings limit - The minimum amount you must earn before you pay National Insurance contributions on your wages or salary. Loyalty bonus - special schemes designed for existing mortgage customers offering benefits such as reduced interest rates, low fees, etc. Lump sum -An amount of money, paid in one single amount - as opposed to receiving or paying the money in installments. LVT - Loan to Value - the amount of a mortgage expressed as a percentage of the value of the property's value or what you pay for the property.