Negative equity.
When the total amount of loans secured on a property exceeds the property’s value. You owe more money than the property is worth.

Net Income.
This is the amount you are paid after income tax has been deducted.

Newel.
The main post supporting the end of a balustrade.

New for old.
This is insurance cover that will pay the full cost of replacing damaged or lost property with a similar, new item.

Nog.
A wooden peg.

Nogging.
Short cross-pieces of timber used to brace studs.

Non-status.
For a non-status loan the lender does not need employment or income references from you. This type of loan is often offered to self-employed people.

Nose.
The extending front edge of a staircase step.