Definitions - A
- Abstract of Title
- A schedule listing the documents which set out the history of ownership of a property.
- Adopted Highway
- A road maintained by the local authority.
- Advance
- The original amount of the loan.
- Agreement
- This is the document which contains all the main terms of what has been agreed between the Seller and the Buyer in respect of the property. The agreement includes the description of the property, title number, the full names and addresses of all the parties, the purchase price, what deposit will be payable on exchange and whether any monies are being paid in respect of additional items which the Seller is selling to the Buyer. This document is generally prepared by the Sellers Solicitors and sent to the Buyers Solicitors for approval. Once the Agreement has been approved then each solicitor arranges for their clients to sign their own copies. Once all the enquiries have been dealt with and searches and mortgage offer (if applicable) have been received then Contracts are exchanged.
- Assent
- A formal document required to transfer ownership of property to a person entitled to the property following the death of the owner.
- Assured Shorthold Tenancy
- A special form of tenancy agreement designed to simplify the process of obtaining vacant possession of the property at the end of the agreed tenancy period.
- Auction
- This is where a property is bought at an auction house. Once the gavel goes down contracts are exchanged
Terms - A
Sellers in northern English market towns see largest property price increases
Homeowners who live in market towns and are looking to sell their property will be pleased to hear that a new survey has revealed that house prices are likely to be higher in towns that have between 3,000 and 30,000 inhabitants.
Good news for buyers as intermediaries offered high value loans
In a move which it hopes will help ease the slowdown in the housing market and free up lenders, the Mortgage Works has launched a new large loans proposition for intermediaries.
'Decent' arguments for staying in buy-to-let market
According to finance site, fool.co.uk, there are a number of "decent" arguments for landlords to stay in the housing market.
AMI praises independent advisors
Responding to a recent Which? study that found a general failure of mortgage advisors to provide adequate advice, the Association of Mortgage Intermediaries (AMI) has said the report did not differentiate between independent advisers and those who sell products.
Fire guidelines help landlords
Landlords have been given guidelines to help prevent deaths resulting from residential property fires, and the move has been supported by a representative body.
First-time buyers return to housing market
First-time buyers are slowly returning to the housing market as figures from the National Association of Estate Agents (NAEA) have shown a steady increase in those getting on the property ladder.
AHIPP says Hips "streamline" process of buying and selling homes
The Association of Home Information Pack Providers (AHIPP) has hit back against claims by the government that Hips should be scrapped.
Landlords advised to check tenant's credentials
Landlords need to make sure they carry out checks on prospective tenants to avoid becoming victims of rental arrears.
Estate agents warned about commission
Cash-strapped sellers that want to avoid paying large sums to third parties will be pleased to hear that the Ombudsman for Estate Agents is keen to regulate fees.
Energy Performance Certificates good news for "cash-strapped renters"
Tenants will be pleased to learn that those landlords failing to supply an energy performance certificate (EPC) will face "considerable fines".
Survey shows tenants are easy to find
An independent survey of landlords, that looks at attitudes towards the government's proposed Sale and Rent Back system and the housing market, has revealed that capital growth is as important as rental yields.
Housing market 'underpinned by strong fundamentals'
The average price of property in the UK has returned to the level it was at in August 2006, according to the latest Halifax House Price Index.
Tenants rising under Rent now Buy later scheme
The number of people becoming tenants could rise significantly under the government's proposed 'Rent first, buy later' scheme.
Calls for recompense of private landlords under 'Rent First, Buy later' scheme
Commenting on the Government's proposed Rent First, Buy Later scheme, price comparison site Moneysupermarket.com has said that private landlords will want compensation.
TV programme gives sellers advice on impressing would-be buyers
A new programme that offers advice to home sellers is tackling the issue of slovenly neighbours whose properties act as a deterrent to would-be buyers.
Amateur landlords need to be 'educated'
The lettings market is currently experiencing a glut of inexperienced landlords as those unable to sell their property decide to let it out instead.
Sellers told that there has been an increase in buyer enquiries
Those wanting to sell their property will be pleased to hear that despite the economic downturn there are a number of would-be-buyers that area showing interest in the housing market.
Landlords told to 'make sure' they have an EPC certificate in place
Landlords have been warned that they could incur fines if they do not provide tenants with an Energy Performance Certificate (EPC).
Value of private rental sector now over £500 billion
The value of the Private Rented Sector is now larger than all privately-owned property and the rental market is helping to "stabilise housing".<br/> <br/>
An industry expert advises that first-time-buyers could benefit from recession
First-time-buyers could be the beneficiaries of a recession, an independent financial advice site has said.
Rics proposes offsetting stamp duty for senior homeowners looking to downsize
Stamp Duty Land Tax (SDLT) needs to be reassessed to prevent it becoming a "major barrier to purchasing property".
Tenants 'less exposed' to rising cost of living
New research has shown that those looking to rent property are better placed than homeowners to ride out the financial storm caused by the rising cost of living. <br/> <br/>
New deals 'help boost mortgage market'
A number of new mortgage deals are set to help boost the struggling mortgage market, new research has indicated.
House prices will 'stop falling within 12 months'
House prices will stop falling within 12 months according to the majority of estate agents who were questioned about the state of the housing market. <br/>
NAEA calls for interest rate cuts
The National Association of Estate Agents (NAEA) has called for the Bank of England (BoE) to keep interest rates down and increase funding for the mortgage market.
UK landlord associations merge
The two principle landlord associations in the UK are to merge to create a "national unified voice for private-residential landlords".
House price adjustments 'healthy'
Whilst many homeowners are concerned about falling house prices an expert has reassured consumers that any correction in values is good for the market.
Fixed-rate mortgages still popular
Homeowners and first-time-buyers are still keen to go for fixed-rate deals despite rates climbing. <br/> <br/>
How to shift 'The unsellables'
As the credit-crunch hits the housing market and sellers find it increasingly hard to shift properties, a new program has come to the UK which promises to offer tips on making a home saleable. <br/> <br/>
London weathers house price falls
A new report has shown that the country's capital has experienced growth in house prices over the year. <br/> <br/>
CML urges BoE to increase wholesale funding
The Council of Mortgage Lenders (CML) has today called for an increase in the supply of funding for the mortgage market.