Definitions - D
- Deed of Covenant
- A document confirming an agreement to pay or do something.
- Deed of Gift
- A document transferring the ownership of property from one person to another without any payment being made for it.
- Deed of Guarantee
- A document used where one person agrees to be responsible for someone elses debt or mortgage obligations if that person fails to carry out their own obligations.
- Deed of Postponement or Priority
- Where a mortgagee agrees to their mortgage ranking after another lenders mortgage.
- Deeds
- The official documents confirming who owns a property which are in the possession of the owner or mortgagee if the property is mortgaged.
- Defective Title Insurance
- A defective title means that there is a problem with the deeds relating to the property. They may be missing, destroyed, lost or simply inadequate. A buyer will not usually buy a property with a defective title unless the seller provides him with an insurance policy to protect him and his lender against any financial loss which could result from the defective title.
- Deposit
- The agreed amount to be paid on exchange of contracts usually forfeited if the buyer fails to complete.
- Disbursements
- Payments made on your behalf e.g. search fees.
- Drainage/Water Search
- This is a search carried out by the conveyancer for the purchaser to check whether the property is connected to mains water and drainage and whether there are any other issues relating to drainage/water affecting the property.
Terms - D
Mortgage competition 'great news' for buyers
Home buyers will benefit from a battle being waged between Britain's two biggest lenders, as they fight to secure new mortgage customers, it has been claimed.
Home sellers 'moving into letting sector'
With many sellers waiting for house prices to pick up before placing their properties on the market, a growing number are choosing to rent them out to tenants in the mean time, according to new research.
How to beat the credit crunch
New guide packed with practical ideas and tips to help you survive the Credit Crunch just launched
Landlord possession rates continue to drop
The number of landlords being forced to pursue possession claims against their tenants fell during the second quarter of 2008, according to the latest statistics from the Ministry of Justice.
Home sellers 'investing in long-term'
Given the current economic situation, home owners are becoming more prepared to increase the valuation of their existing house with improvements such as underfloor heating, it has been revealed.
Sellers need "kerb appeal"
As the slowdown in the housing market continues and industry experts seem undecided about whether prices will fall further, many homeowners are left struggling to sell their property.
Survey reveals 98 per cent of buyers can secure a mortgage
The vast majority of homeowners do not have an issue arranging a mortgage, according to new research from HSBC.
Law Commission's plans to regulate buy-to-let market
The Law Commission has announced plans to tighten the regulation of the buy-to-let and private rented market which it hopes will improve standards.
Shard-equity mortgage enquiries on the up
Those trying to get onto the housing ladder may want to consider a shared-equity mortgage.
Industry body calls on government to make decision on 'stamp duty holiday'
The latest report from the Royal Institute of Chartered Surveyors (Rics) has hinted at a stabilisation of the housing market over the coming months.
Northern Rock rate cuts - sign that 'competition is returning to home loan market'
The fact that Northern Rock has launched a range of new mortgages is sign that "competition is returning to the home loan market", the Guardian reported.
Industry body gives tips to landlords
Whilst many landlords are reaping the benefits of increasing demand for rental properties and high yields on properties, an industry body has issued advice on surviving the economic downturn.
Scottish housing market 'most resilient' while London and south-east 'strongest'
Consumers concerned about falling house prices should consider Scotland or London and the south-east.
Rental demand 'high' and yields 'good'
As the housing market cools, professional investors could be set to benefit from falling prices, the Times has reported.
AHIPP claim Hips help process of buying and selling
According to the Association of Home Information Pack Providers (AHIPP), there is no doubt that Home Information Packs (Hips) have delivered benefits to both buyers and sellers.
Sale and rent back scheme code of practice for landlords
The sale and rent back system that offers those facing repossession the option to sell their property and then have it rented back to them is being examined by the National Landlords Association (NLA).
Tips for selling property
It is currently taking, on average, 11 weeks to sell a property and Simon Hills of the Times has revealed tips on how "canny sellers" can beat a cooling housing market.
High street bank cuts rates
Cash-strapped borrowers will be pleased to hear that Abbey is cutting the rates on some of its two and three-year fixed and tracker deals by up to as much as 0.10 per cent.
Housing market 'is stabilising'
Those in the capital looking to sell property will be pleased to hear that the market is stabilising.
Sellers look to home improvements to boost property value
Homeowners are making improvements to their property in the hope of making it more attractive to prospective buyers.
Stamp duty suspension could help first-time buyers
First-time buyers may benefit from a government proposal to waive stamp duty to help struggling consumers get onto the housing ladder.
Energy performance certificates could make homes 'more desirable'
As the credit crunch hits homeowner's pockets those who are considering moving are keeping a close eye on the associated costs and are keen to find ways to find ways of cutting back.
'Kid's digs' are 'adding value' for those looking to sell property
Homeowners who are keen to add value to their property before selling it may want to consider building a wooden chalet in their garden.
Shared ownership schemes popular
As lending criteria becomes tougher and borrowers are expected to raise larger deposits, shared ownership schemes are giving first-time buyers a lifeline to get onto the property ladder.
Estate agents accused of not providing buyers with Hips
A number of estate agents have been accused of breaking the law by not providing prospective buyers with Home Information Packs (Hips).
Consumers urged to keep house price figures 'in perspective'
Whilst the Nationwide house price index has shown that house prices have fallen again by 1.7 per cent, the National Association of Estate Agents (NAEA) has said that the figures need to be taken in context.
Proposal for improvements to Hips
A new Property Information Questionnaire (PIQ) may be introduced to help simplify the information contained in Home Information Packs (Hips).
Buy-to-let investors need to be 'selective' about property
Buy-to-let investors can still make money in the current market but they must be "very careful" to ensure they get the correct advice and select the right property.
Lender cuts rates on buy-to-let mortgages
Property investors will be pleased to learn that one of the high street's biggest lenders has announced that is will be cutting interest rates on its buy-to-let mortgages.
Buy-to-let investors looking at UK holiday homes
There are an increasing number of buy-to-let investors who are hoping to put money into a holiday home in the UK, according to new research.
Next two years 'excellent time to snap up' bargains
There are opportunities for those in a strong financial position to snap up a bargain as the housing market slowdown signals the start of the "Great British property sale".