Property Jargon
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Property Jargon

From the simple to the complex! Hydeproperty's property jargon index will guide you through the language of the property market. Alphabetically listed and user friendly. 


Annual percentage rate (APR)----- The rate at which interest on loans / mortgages is charged. For example, 100 Euro borrowed at a 10% APR on a loan term of 1 year means you repay 110 Euros altogether.

Auction-----The sale of a property to the highest bidder. This can be done through a public auction held in a sales room or a private auction where bidders are directly in contact with an Auctioneer.


Bridging Loan-----A specific type of loan which allows a person purchase a second property before the sale of their own property is complete.

Building Survey-----A structural survey of a property which reports on the condition of a property. A purchaser usually has a building survey done to so they know the exact condition of the property they are buying.

Buy to Let----- When a property is purchased or built for the specific purpose of letting / renting to others.


Capital Gains Tax-----A tax levied by the government on the profit made by the sale of a property. Various exemptions and conditions apply to this tax. 

Contract-----Once a price has been agreed between a purchaser and a seller, a contract is drawn up by their solicitors giving the conditions & details of the sale. Once signed, a legally binding document between the purchaser and seller.

Conveyancing-----Term used to describe the legal work involved in the buying and selling of property. Also gives rise to a conveyancer, a person who is proficient in such work.

Covenants-----The rules governing a property usually found in its title deeds / lease.


Deeds-----Legal document showing ownership of a property.

Deposit-----An initial sum of money paid by the purchaser on a property. 


End of Terrace-----Description of a property which is located at either end of a row / terrace of houses. See terrace also. 

Endowment Mortgage-----A specific type of mortgage wherby the purchaser makes repayments consisting of a certain amount of interest on the mortgage and a certain amount which is invested in an endowment policy (eg. a pension, stocks & shares etc). The endowment policy should finish within a certain time frame and be sufficient (in theory) to repay the full mortage.

Equity-----The difference between a property's value and the outstanding mortgage on it.


Fixtures and fittings-----A term used to describe items such as skirting boards, light switches, plug sockets etc. Not normally taken by a seller when leaving a property.

Freehold-----Term used to describe ownership of a property, meaning it is literally 'held free'. See also Leasehold to contrast terms.


Gazumping-----Happens when a Seller accepts an offer from another purcahser despite having accepted a bid from a differing purchaser previously. Occurs between the time a price has been agreed and a legally binding contract is signed.

Gazundering-----Unlike gazumping, not that common. A buyer may make a lower offer to a seller depsite agreeing a purchase price previously or a seller may decide to sell at a lower price to a differing purchaser.

Ground rent-----A rent charged by a freeholder to the leaseholder on a property. Especially common on older properties.

Guarantor-----Sometimes a bank may request a guarantor for a loan - a person who promises to repay a loan should the original borrower be unable to do so.


Honesty-----Make sure the people you do business with utilise it!


Interest-----The amount of money a lender charges you for borrowing money.

Interest Only Mortgage-----A mortgage where you only repay the interest on the loan during the loan term. The actual loan can be paid off with a lump sum / lump sums.


Joint Agents-----Where two or more auctioneers are jointly handling the sale of a property. 



Land registry-----A register of property and ownership.

Lease-----A contract which specifies that a property is rented for a certain period of time. 

Leasehold-----Specifies that a property is owned under the terms of a lease. 

Listed Building-----A property which cannot be demolished or altered for a number of reasons such as historical interest or architectural features. Can also be referred to as a protected structure. 


Maisonette-----A description of a particular type of property consisting of a part of a house on more than one level which can be accessed by a private entrance.

Mortgage-----A sum of money lent by a bank or financial institution in order to buy a property. 


Negative Equity-----A situation when the value of a property is less than the amount of mortgage owed on it. 


Open Market Value-----The value a property should achieve were it to be placed on the open market.


Padraig Hyde & Sons-----The best Estate Agents in the business!

Private treaty sale-----Unlike an Auction where a date and time is arranged for people to place bids, a private treaty sale is conducted without such conditions. A property is placed on the market, viewings conducted and any bids relayed to the Vendor for consideration.


Questions-----Never be afraid to ask!.


Real Estate-----American term used to describe property

Realtor-----American term used to describe Auctioneers / Estate Agents.


Semi-detached-----A property which ia attached to another property. 

Stamp Duty-----A tax levied by the government on the purchase of a property. The tax varies according to the price of the property. 

Studio-----A type of property on one level with an open plan livingroom / kitchen area and a seperate bedroom and bathroom. 


Tenant-----Description of a person who rents a property. 

Terrace-----A row of three or more houses which are all joined together.

Title Deeds-----Legal document showing ownership of a property. See also Deeds 

Turn Key-----Expression used to indicate that a property is in walk-in condition. No repairs necessary.



Vendor-----Term used to describe the seller of a property. 




Yield-----A description of the income from a property calculated as a percentage of the property's value. 

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