Glossary H – P |
Instruction
This is what you give an estate agent when you want them to sell your house. You effectively ‘instruct’ the estate agent to market your house and find a buyer for it.
Joint Agency
This is when you are instructing two estate agents to sell your house. The commission to each agent will be agreed between the agents and the vendor.
Land Certificate
The certificate given by the Land Registry that proves ownership of land.Land Registry
The government office that holds records of land ownership, as well as any charges such as a mortgageLeasehold
A piece of land/property is leasehold, when the ‘owner’ has to pay the owner of the freehold an annual amount.Maintenance Charge
A charge made by a landlord for the annual maintenance of a property. This should be agreed in your contract.Mortgage
A loan with property as security.Mortgage Deed
This holds the details of a mortgage arrangement.Mortgage Offer
An offer from a lendor, detailing the terms and conditions of a loan.Mortgagor
The person borrowing money to buy a property.Offer
An offer you make on a property.
