The Property Guide


Property Knowledgebase and Glossary

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Early Repayment Charge A charge payable on some mortgages if they are repaid early (during an Early Repayment Charge period).
The amount depends on the mortgage outstanding and the terms of the mortgage.
Easement A legal right over land, for example the right to access a specified area of land, such as a right of way.
Edwardian Property built between approximately 1901 -1910.
Elizabethan Property built between approximately 1560 -1603.
Endowment An endowment policy is a means of repaying an interest-only type of loan. This is guaranteed to repay the sum assured in the event of your unfortunate death prior to the end of the policy term.
At the end of the policy term, the value of the policy will be dependent on investment performance and is not guaranteed.
Energy Efficiency Rating (the SAP Rating) The Energy Efficiency Rating is a measure of the overall efficiency of a dwelling. The higher the rating the more energy efficient the dwelling is and the lower the fuels bill should be.
Enforcement Notice Notice requiring the discontinuance of an unauthorised use and/or the removal of buildings, including restoration of land, where development has been begun without permission or in breach of a condition.
English Heritage ( Historic Buildings and Monuments Commission for England) A national body funded by the government to promote and give advice on building conservation matters.
English Nature A national body funded by the government to promote and give advice on the conservation of England's wildlife and natural features.
Engrossment When the draft deeds to a property are approved they are engrossed for the vendor and purchaser to sign.
Equity The amount of the property you own! The equity you own will be the difference between the amount you borrowed to buy the property and its current market value if you sold it.
Established Use Certificate These were issued by a planning authority before July 1992 where it could be shown that a use of land or buildings had existed since before 1964. It gave immunity from enforcement action.
Since July 1992 these have been replaced by Lawful Development Certificates.
Exchange of Contracts The date the legal agreements between vendor and purchasers' solicitors change hands, and become legally binding and a date set for completion.

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