The most common and most likely answer to this crossword clue is the 5 letter word TILDE
I've seen this crossword clue in The Times
T
I
L
D
E
More clues leading to the result TILDE
- Mark fell finally into flowing water
- Mark’s daughter wearing hat
- Duke in hat to see señorita's wiggle
- Mark on letter “up to date”, removing contents
- Iberian character, Spaniard’s back in hat
- Movement of water across lake in wavy line
- Something that turns across top of letter?
- What señorita displays until decorum covers it
- Mark signalling about daughter in top hat
- Mark, in language education books, retrospective
Buddy explains!

The straight part
We know that "Iberian characte" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case iberian characte = tilde.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TILDE mean?
TILDE noun- The grapheme of character ~.
- The character used to represent negation, usually ~ or ¬.