Property glossary
Every term explained in plain English, with the detail that matters for a move in England. MyMoveMate is an organisational tool. It is not an estate agent, conveyancer, surveyor, mortgage adviser or solicitor, and it does not give legal, tax or financial advice.
- Completion
- The day money transfers, ownership changes and keys are released.
- Conveyancing
- The legal process of transferring property ownership.
- Conveyancing enquiries
- Written questions the buyer's conveyancer asks the seller's solicitor.
- Deposit
- The money you put towards a purchase, and the sum paid at exchange.
- EPC (Energy Performance Certificate)
- A rating of a property's energy efficiency, required when selling.
- Exchange of contracts
- The point at which a property sale becomes legally binding.
- Fixtures and fittings
- What stays with the property and what the seller takes.
- Freehold
- Outright ownership of a property and the land it stands on.
- Gazumping
- When a seller accepts a higher offer after already accepting yours.
- HM Land Registry
- The government body recording property ownership in England and Wales.
- Leasehold
- Ownership of a property for a fixed term, with a landlord above you.
- Memorandum of sale
- The estate agent's document confirming the agreed terms of a sale.
- Mortgage valuation
- The lender's check that a property is adequate security for the loan.
- Property chain
- A sequence of linked purchases that must complete together.
- Property searches
- Checks against public records about a property and its surroundings.
- Property survey
- An independent inspection of a property's condition.
- Stamp duty land tax
- The tax paid on property purchases above a threshold in England.
- Subject to contract
- A phrase marking an agreement as provisional and not yet binding.
- TA10 form (Fittings and Contents Form)
- The seller's list of what is included in the sale.
- TA6 form (Property Information Form)
- The seller's standard disclosure form about the property.
- Title deeds
- The documents proving ownership and the rights attached to land.
Want the fuller picture? Read the moving house guides.