| No. | Item | Definition |
|---|---|---|
| 1. | affordability | ability to pay costs |
| 2. | agent | representative in property sale |
| 3. | amenities | useful nearby facilities |
| 4. | appraisal | formal opinion of market value |
| 5. | APR | yearly borrowing cost measure |
| 6. | arrears | overdue unpaid amounts |
| 7. | boundary | edge line of the property |
| 8. | broker | person arranging loans or sales |
| 9. | budget | planned spending limit |
| 10. | buildings insurance | cover for structure damage |
| 11. | bungalow | single-storey house |
| 12. | buyer | person purchasing the property |
| 13. | chain | linked dependent property transactions |
| 14. | completion | final transfer of ownership |
| 15. | condition | state of repair |
| 16. | contract | binding purchase agreement |
| 17. | conveyancing | legal transfer of property |
| 18. | council tax | local property tax charge |
| 19. | covenant | binding rule affecting property |
| 20. | credit | borrowing history and trustworthiness |
| 21. | damp | unwanted moisture in walls |
| 22. | debt | money owed to others |
| 23. | deed | legal document proving ownership |
| 24. | defect | problem or flaw in property |
| 25. | deposit | initial money paid toward purchase |
| 26. | disclosure | information seller must reveal |
| 27. | down payment | upfront part of the price |
| 28. | driveway | private area for parking |
| 29. | easement | legal right over another land |
| 30. | eligibility | whether you qualify |
| 31. | equity | ownership value after debt |
| 32. | escrow | money held by third party |
| 33. | estate agent | property sales representative |
| 34. | exchange | formal swap of signed contracts |
| 35. | fees | charges for services |
| 36. | fixed rate | interest rate stays unchanged |
| 37. | fixtures | attached items included in sale |
| 38. | flat | self-contained apartment home |
| 39. | foreclosure | lender takes property for debt |
| 40. | freehold | full ownership of property and land |
| 41. | garage | building for vehicle storage |
| 42. | garden | outdoor planted area |
| 43. | gazumping | seller accepts a higher offer |
| 44. | gazundering | buyer lowers offer late |
| 45. | guarantor | person backing the loan |
| 46. | homebuyer report | basic survey for buyers |
| 47. | house | standalone or attached dwelling |
| 48. | income | money earned regularly |
| 49. | inspection | careful check of condition |
| 50. | insulation | material reducing heat loss |
| 51. | insurance | financial protection against loss |
| 52. | interest | cost of borrowing money |
| 53. | inventory | list of included items |
| 54. | joint tenancy | shared ownership with survivorship |
| 55. | lease | right to occupy for term |
| 56. | leasehold | ownership for a fixed term |
| 57. | lender | institution providing the loan |
| 58. | listing | property advertised for sale |
| 59. | location | place where property sits |
| 60. | LTV | loan compared with value |
| 61. | maintenance | ongoing upkeep and repairs |
| 62. | mold | fungal growth from moisture |
| 63. | mortgage | loan used to buy property |
| 64. | negotiation | discussion to reach agreement |
| 65. | neighborhood | surrounding local area |
| 66. | new-build | newly constructed home |
| 67. | offer | proposed price to buy |
| 68. | parking | space for vehicles |
| 69. | permit | official permission for work |
| 70. | planning | official development approval process |
| 71. | preapproval | early lender approval estimate |
| 72. | principal | original amount borrowed |
| 73. | proof of income | evidence of earnings |
| 74. | rate | percentage charged on loan |
| 75. | renovation | major improvement work |
| 76. | repair | work fixing damage or wear |
| 77. | repayment | money paid back regularly |
| 78. | repossession | lender retakes the home |
| 79. | reservation | temporary hold on property |
| 80. | savings | money set aside |
| 81. | searches | legal checks on property |
| 82. | seller | person selling the property |
| 83. | solicitor | lawyer handling the purchase |
| 84. | stamp duty | tax on property purchase |
| 85. | subsidence | ground sinking under building |
| 86. | survey | inspection of property condition |
| 87. | tenants in common | shared ownership in separate shares |
| 88. | tenure | type of property ownership |
| 89. | term | length of the loan |
| 90. | title | legal ownership of property |
| 91. | transport | means of local travel |
| 92. | underwriting | lender’s risk assessment process |
| 93. | utilities | essential services like water |
| 94. | vacant possession | property empty at completion |
| 95. | valuation | professional estimate of worth |
| 96. | variable rate | interest rate can change |
| 97. | vendor | seller of the property |
| 98. | viewing | visit to inspect property |
| 99. | warranty | written promise of repair cover |
| 100. | zoning | rules on land use |
