The Property Guide


Property Knowledgebase and Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 


Capital Appreciation Growth or gain in the value of a property or asset over time. Added to income. This contributes to the overall or total return on a buy to let property or financial investment.
Capital Gains Tax A tax on profits above a fixed level made from the sale of financial assets such as a house, flat or shares.
Caveat Emptor Let the buyer beware. The buyer is responsible for making sure that a purchase is of reasonable quality - the onus is upon the buyer to discover, not on the seller to disclose.
Cavity Wall Standard modern method of building external walls of houses comprising two leaves of brick or blockwork separated by a gap.
Cavity wall insulation is the filling of wall cavities by one of various forms of insulation material.
Chain This relates to the 'chain' of properties involved in your purchase. In order for completion to take place, all the people involved in the 'chain' have to synchronise the sales of their properties.
A break in the chain may mean a delay while a new purchaser is found. A chain will usually start with a buyer who has no property to sell and end with someone moving into an empty property.
Closing Date (Scotland) Once a number of parties have noted an interest, the sellers may set a closing date for offers. This is usually noon on a certain date, and offers should be submitted before that time on that day.
You will normally be advised how many other parties have noted an interest, but not what they will be offering.
It is at this stage that you must decide how much you are willing to offer, depending on the valuation and level of interest.
If your offer is unsuccessful, your solicitor is not permitted to re-submit a higher offer on your behalf, unless invited to do so by the selling agents.
Completion The date all monies and title deeds are transferred, and you can now move into your new home
Conclusion of Missives (Scotland) The date the legal agreements between vendor and purchasers' solicitors change hands, and become legally binding and a date set for completion.
Conservation Area An area given statutory protection under the Planning Acts, in order to preserve and enhance its character and townscape.
Contaminated Land Land which has been polluted or harmed in some way rendering it unfit for safe development and most practical uses.
Contents Insurance Insurance against accidental damage or theft of all moveable contents, including furniture, appliances and soft furnishings.
Contracts The legal documents signed by both parties transferring ownership of the property from one person to another.
Conveyancer A person other than a solicitor who may conduct the conveyancing.
Conveyancing The legal process involved in buying and selling properties, usually dealt with by a solicitor or licensed conveyancer.
Council Tax The local Council identifies several categories or bands based on property value for the purposes of establishing the amount payable in rates per year.
Countryside Agency Organisation responsible for advising government and taking action on issues affecting the social, economic and environmental well-being of the English countryside.
Covenant A condition, contained within the Title Deeds or lease, that the buyer must comply with, which is usually applied to all future owners of the property.
A restrictive covenant is one that prohibits the owner from doing something.
Credit Scoring Lenders often use a system called credit scoring to help them decide whether to lend to you. They ask a series of questions about you and your finances and score your answers.
Depending on your score you will be accepted or declined.

© RuleWorks - All Rights Reserved - Policy -