The Property Guide


Property Knowledgebase and Glossary

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Back-land Land which is behind existing development with no, or very limited, road frontage.
Bank of England Base Rate The Bank of England set a rate each month known as the 'Base Rate'. Banks and Building Societies use the Base Rate to set the interest rates they pay on deposits, or charge on debts.
Barge Board Wide board (on older work often carved) fitted below tiles of overhanging verge to gable.
Battens Timber members to which roof tiles are fitted.
Betterment The amount by which the value of land is increased by development or by the grant of planning permission, or because of the development of neighbouring land into new properties.
Borrowing Multiples These govern how much you can borrow and are usually worked out as a multiple of your salary.
The multiples used will vary from lender to lender, although typically they will be 3 times the larger salary plus 1 times the second, or 2.75 times your joint income, whichever is the highest.
Bridging Loan / Bridging Finance A temporary loan advanced to help somebody buy a new property before they have sold their existing one.
Brown-field Site Land which has been previously developed, excluding mineral workings or other temporary uses. Many new houses and flats are now being built on such sites.
Building Preservation Order A notice under Section 3 of the Planning ( Listed Buildings and Conservation Areas) Act 1990 to protect buildings of special architectural or historic interest from demolition or alterations.
Buildings Insurance Insurance against the cost of rebuilding a property from scratch following structural damage, for example by flood, fire or storm.
Built Environment part of the environment the consists of buildings and structures.

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