In the context of property transactions in the United Kingdom, a vendor is a person or entity who is selling a property. The term ...

A variable interest rate mortgage is a type of mortgage where the interest rate can change over time. This means that your monthly repayments ...

The fee charged by the lender for a mortgage valuation.

An appraisal of a property to establish its market value. This is generally instructed by the lender for the lender. As the name implies ...

A property is said to be unencumbered if there are no loans or mortgages secured against it. Unencumbered property refers to a property that ...

The term “under offer” refers to a property that has received a successful offer from a prospective buyer, but the legal part of the ...

The majority of Land these days is registered at the Land Registry, so you are unlikely to ever receive paper bundles of ‘Title Deeds’ ...

A Transfer of Equity is a legal procedure used to change the ownership of a property, typically by adding or removing someone from the ...

The TR1 form, also known as the Transfer Deed, is a legal document that is used to transfer ownership of a property from one ...

The interest rate on a tracker mortgage tracks, or follows, the Bank of England base rate at a set margin above or below it.

Typically used for holiday let and buy to let mortgages. The lender may offer a customer a higher loan amount by using some excess ...

The period of time that your mortgage will be set up for. It is possible to amend the term during a mortgage and also ...

A tenant is a person who rents or leases a property from a landlord. The tenant is responsible for paying rent to the landlord ...

Your Tax Year Overview (TYO) is a statement that lists tax payable, tax paid and tax outstanding. This is often requested by a lender ...

A property inspection and report conducted by a qualified surveyor to identify issues or faults with the property that may affect its safety or ...

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