The payment of Mortgage monies by the Lender.
Transfer of a lease.
Approval issued by the Local Authority in relation to the structural soundness, safety etc of construction works or alterations
A debt secured on the property, e.g. the monies borrowed from a Lender to purchase a house. (See Mortgage)
Formerly the principal ownership document of a property where the title is registered and a mortgage is involved. Now no longer of legal effect. (See also Land Certificate).
Enquiries to establish if anyone has any rights of grazing or fishing, etc.
The day on which you move.
The legal terms of the contract.
A legally binding agreement between Buyer & Seller.
Rules and conditions contained in the Deeds or Lease that relate to the upkeep of the property or place restrictions on its use.
A document which confirms that the buyer will comply with the rules and conditions affecting the property.
Part of purchase money paid on exchange by the Buyer to confirm the commitment to purchase.
Enquiries of the Drainage Company as to mains sewers and water pipes.
A right granted over another's property, e.g. a right of way which allows certain persons access over a piece of land.
A right in favour of another person or a covenant or other unfavourable feature affecting a property.
An electronic method which some lenders use to notify Land Registry that a mortgage has been paid off.
The final document to be signed by all relevant parties.
Enquiries relating to past and current land uses of the property and its surroundings that may indicate the likelihood of contamination or pollution.
Stage at which the transaction between the Seller and the Buyer becomes legally binding.
A legal document signed by the Lender releasing the charge against the property.
Outright ownership of the property and land on which it stands.
Annual payment to Landlord in the case of Leasehold properties only.
A lease granted out of a freehold property. There may be subsequent leases (Underleases) created out of the headlease.
An assessment of the main parts of a property which is less detailed than a structural survey but gives general indicators as to its condition.
On the death of one of you the property will pass to the survivor of you in exactly the same way as if that person had purchased the property on their own (see also Tenants in Common).
Formerly the principal ownership document of a property where the title is registered and no mortgage is involved. Now no longer of legal effect. (See also Charge Certificate)
One who owns property and rents it to others whether on long or short leases or tenancies.
Government Department holding the National Property Register.
Document setting out the terms of occupation of leasehold property between Landlord and Tenant.
Method of owning property (usually a flat) for a fixed term but not the land on which it stands.
Formal permission by Landlord for Buyer to buy leasehold property.
Enquiries of Local Authority concerning planning and services.
Company formed to comply with certain obligations under a Lease, e.g. insurance, repairs, maintenance of main structure.
Firm employed by the Landlord or Management Company to arrange practical maintenance and general management of a building
Loan secured against the property by Deed, e.g. monies borrowed from a Lender to purchase a home. (See Charge)
Lender, e.g. Building Society or Bank.
Insurance which covers the Lender in the event that they have to repossess the property and there is a resulting loss. The Insurance Company has the right to payment from the defaulting borrower of any resulting loss.
An Insurance which guarantees your mortgage payments should any of the following occur: Accident, Sickness, Redundancy/Unemployment.
Borrower.
National House Builders Council. The NHBC provide a ten year insurance policy on the main structure of new properties.
Certified copies from the Land Registry of the entries on a registered title.
Minor alterations to a Property that do not require Planning Permission because they fall within certain criteria issued by the Local Authority
When the mortgage loan is paid off.
Details of the property held by the Land Registry.
Loan where monthly payments include interest and part of the capital initially borrowed.
Queries raised on the Title to the property, e.g. details as to how much money is payable on completion and what documents will be handed over.
Monies held back from the advance usually pending completion of necessary works to the property.
Money charged to owners of leasehold property and used by the Landlord or Managing Agents for maintenance, insurance and repairs to the property.
A tax on property transactions valued at over £120,000.00 at various rates calculated on the total price with additional tax payable on the rent under a new lease.
Negotiations prior to exchange of contracts between Buyer and Seller and not binding on the parties until contracts have been exchanged.
A detailed assessment of the essential framework of a building.
A person who pays rent to another for the use of property or land.
On death of one of you the share of that person will pass in accordance with any Will that has been made. (See also Joint Tenants).
Freehold or Leasehold.
Period of Time , e.g. the length of the Mortgage or Lease.
Documentary history of the property.
Document which hands over the ownership of a property.
A further lease of the whole or part of a property granted by an existing tenant of a property.
Assessment of a property's value only, not a survey of the structure