Financial Dictionary - S

Article Index


an examination to confirm that a vendor is in a position to sell a property and that there are no encumbrances on it.


the process of taking a pool of diverse assets such as different home loans and converting them into a tradable security such as bond which investors can then purchase and trade.


an asset that guarantees the lender their borrowings until the loan is repaid in full. Usually the property is offered to secure the loan.


two houses that share a common wall or walls.

Settlement Date

date on which the new owner finalises payment and assumes possession.


a person authorised to utilise an account.

Stamp Duty

on loan amount a State government tax on mortgage amount.

Stamp Duty on Property Purchase

a State government tax on the purchase price of a property.

Standard Variable

a variable home loan, usually with comprehensive features (as opposed to a basic variable). This is often the variable rate fixed rates roll to at the end of their fixed term.


a stepped account is one in which different amounts of interest are paid on different amounts of interest are paid on different portions of the account. e.g. two percent on the first $1,000 and three percent on the second $1,000.

Strata Title

this title gives you ownership of a 'unit' of a larger building which you may sell, lease or transfer at your discretion. Also entitles you to membership of the body corporate.

Stratum Title

a title that records your ownership of a 'unit' of a larger property. Unlike a strata title, the owner becomes a shareholder in the company that manages the common area, not just a member.


a plan that shows the boundaries of, and the building position within, a block of land.