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Gazumping - Gazumping is the term used to describe a situation in which the seller of an asset (let's say a house) accepts a new purchaser's offer, having already accepted another lower offer from another potential buyer.

Gazundering - To lower the amount of money being offered to a seller of a property after a price has already been agreed.

Ground Rent - Rent paid to the owner of freehold land by a person who has a Lease.

Guarantor - Someone who guarantees an obligation of another, such as a parent guaranteeing to pay mortgage payments in the event that their child defaults.


Habitable Room - All living rooms and bedrooms, but not kitchens, bathrooms, WCs or circulation space, are normally regarded as habitable for the purposes of density calculations. A room fit to be lived in.

Help to Buy Mortgage Guarantee - The Help to Buy mortgage guarantee will help you buy a home with a deposit of only 5% of the purchase price. The scheme will help people buy any home worth up to £600,000. The Government will guarantee the next 15pc of the loan for a fee. Help to Buy mortgage guarantees will be open to both first-time buyers and home movers. However, you won’t be able to get a Help to Buy mortgage guarantee if you’re planning on renting out the property. The guarantee is provided to your lender - not to you. To qualify for a Help to Buy mortgage guarantee, the home you want to buy must be offered for sale at £600,000 or less, not be a shared ownership or shared equity purchase, the property can be newly built or already existing. You don’t have to be a first-time buyer and there’s no limit on your level of income. But you can’t use Help to Buy with any other publicly funded mortgage scheme.

Home Buyers Report - The homebuyer's report comments on the structural condition of most parts of the property that are readily accessible, but does not involve in-depth investigation or the testing of water, drainage or heating systems.

Homebuyer Survey and Valuation - Carried out by a Chartered Surveyor and designed to focus on urgent or significant matters requiring attention.


Interim Deposit Payment - An additional deposit paid on new build property when exchange takes place well in advance, eg: 12-18 months, of completion.

Instruction - When a seller gives authority to an estate agent to begin marketing of a property.


Land Certificate - Land document issued by the Land Registry to the owner of registered land as proof of ownership. It includes a copy of the register and the plan showing the extent of the land.

Land Registry - The Land Registry is a Government agency responsible for the registration of title to land. Registration enables the sale of land and property to take place without the laborious and expensive exercise of checking through title deeds. The Land registry website is

Land Registry Fee - Your solicitor pays this on your behalf to register your details in the Land Registry records once you've bought a property or changed your mortgage lender.

Land Search - A formal application for an inspection of the Land Registry register. A certificate is issued showing the current situation of the land in question.

Leasehold - To be given ownership of a property but not the land it is built on. This normally requires payment of ground rent to the landlord. A leasehold is normally offered for either 999, 125 years or 99 years or shorter terms.

Lessor - Person responsible for granting a lease, normally the landlord.

Listed Building - Building or other structure of special architectural or historic interest.

Listed Building Consent - A permission required for the alteration or demolition of a listed building.

Local Authority Search - Part of the conveyancing process when you buy a property, carried out by your conveyancer. It gives details of any matters which, from the local council's point of view, affect the property. It reveals any proposed changes to the local area, such as road improvements, and details any planning permission given for the property, or tree preservation orders etc.

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