Decoding property terms: your guide to getting it right
When it comes to buying or selling a property, the language used can sometimes feel like a whole new world. From legal terms to financial jargon, understanding property terminology is key to making informed decisions. If you’ve ever found yourself scratching your head at industry terms or feeling overwhelmed by the terminology, this property jargon buster will help you navigate the process with confidence.

1. EPC (Energy Performance Certificate)
An EPC gives you an overview of a property’s energy efficiency. It’s rated from A (very efficient) to G (inefficient), with higher ratings meaning lower energy costs and a better environmental impact. Buyers should consider EPC ratings when deciding on properties, as higher-rated homes tend to be cheaper to run.

2. Chain
A chain refers to a sequence of transactions in property sales. For example, if you’re buying a home, the sale might be part of a chain of buyers and sellers all linked together. A chain-free property means there are no other buyers or sellers involved, which can speed up the process.

3. Mortgage in Principle (MIP)
A mortgage in principle is a statement from a lender that says you are likely to be approved for a mortgage up to a certain amount, based on your income and credit history. It’s useful when house hunting, as it shows sellers you are serious and financially capable of making a purchase.

4. Conveyancing
Conveyancing is the legal process of transferring property ownership from the seller to the buyer. This involves a series of legal checks, including searches on the property’s history and ensuring all paperwork is in order. Conveyancers or solicitors manage this process.

5. Exchange of Contracts
When you exchange contracts, the sale becomes legally binding. At this point, the buyer and seller sign an agreement to complete the transaction, and the buyer typically pays a deposit (usually 10% of the purchase price). Once exchanged, neither party can back out without financial penalties.

6. Completion
Completion is when the property officially changes hands. It’s the final step in the sale process, where the balance of the purchase price is paid, and the buyer receives the keys to their new home. It usually happens a few weeks after the exchange of contracts.

7. Freehold vs Leasehold
Freehold means you own the property and the land it sits on outright.
Leasehold means you own the property for a set period (often 99 or 125 years), but the land it sits on is owned by a separate party (usually a freeholder). Leasehold properties often have additional costs, like ground rent and maintenance fees.

8. Survey
A survey is a professional inspection of a property to assess its condition. There are different types of surveys:

• Homebuyer’s Report: A basic survey that highlights any obvious problems.
• Building Survey: A more thorough inspection for older or larger properties.
• Valuation Survey: Usually carried out by a mortgage lender to determine if the property is worth the loan amount.

9. Stamp Duty
Stamp Duty Land Tax (SDLT) is a tax paid when buying property in England. The amount you pay depends on the property price and whether you are a first-time buyer. First-time buyers get a tax break on properties up to £425,000, while buyers of second homes or higher-priced properties will pay more.

10. Asking Price vs Offer Price
The asking price is the amount the seller is asking for the property. The offer price is the amount you propose to pay for it. You can negotiate your offer based on factors like the property’s condition or how long it’s been on the market.

11. Closing Costs
Closing costs refer to the additional fees involved in completing the purchase of a home. These can include stamp duty, legal fees, survey costs, and other administrative charges that buyers need to account for on top of the property’s purchase price.

12. Deposit
The deposit is the money you put down upfront when buying a home, typically between 5% and 20% of the property price. The larger the deposit, the more likely you are to receive a better mortgage rate.

13. Buy-to-Let
A buy-to-let is a property purchased with the intention of renting it out to tenants. The income generated from renting the property should ideally cover the mortgage repayments, and any profit is considered an investment.

14. Bridging Loan
A bridging loan is a short-term loan used to “bridge the gap” between buying and selling. It’s often used if you need to secure a property before selling your current home or if you’re waiting for long-term financing.

15. Capital Gains Tax
Capital Gains Tax (CGT) is a tax on the profit you make when selling an asset, such as property. If you sell a second home or investment property, the profit made on the sale may be subject to CGT. It’s important to factor this into your calculations if you’re selling.

Mastering the lingo
While property terminology can seem confusing, understanding the key terms is the first step in making smart, informed decisions. Whether you’re buying, selling, or investing, knowledge of the jargon will help you navigate the property market with confidence.

Ready to explore the property market? Get in touch today to learn more and feel confident with every step you take.

The Renters’ Reform Bill is set to be the most significant shake-up of the private rented sector in decades. While the final legislation is still being debated, its direction is clear: fairer tenancies, fewer evictions, and a more transparent relationship between landlords and tenants.

That doesn’t mean landlords should worry, but it does mean landlords should be ready. This bill applies only in England and primarily affects Assured Shorthold Tenancies. Forward-thinking landlords are reviewing their processes to future-proof their lettings.

1. Prepare for the end of Section 21
The headline change is the proposed abolition of ‘no-fault’ evictions under Section 21. All evictions will need to be justified under Section 8, using specific grounds (e.g., rent arrears, breach of tenancy, wanting to sell).

Preparation steps:

• Audit your tenancy documentation to ensure it’s fair and up to date.
• Document everything: inspections, communications, complaints, and responses to create a paper trail.
• Ensure deposit protection certificates, gas safety records, and How to Rent guides are correctly issued and logged.

2. Move towards periodic tenancies confidently
The Bill proposes that all tenancies will become periodic by default—rolling monthly agreements with no fixed end date. For landlords used to fixed terms, this may feel like a loss of structure, but periodic tenancies actually offer flexibility for both parties.

Landlord insight: With a reliable tenant, periodic tenancies reduce admin while still allowing reasonable notice for rent increases, property sales, or repossession—all within a clearer, balanced process.

3. Strengthen your compliance
The Bill raises the bar on landlord responsibilities. A new Property Portal may act as a central register to prove compliance.

Your compliance admin check:

• Electrical Installation Condition Report (EICR) within five years.
• Annual gas safety certificate.
• EPC rating of E or above (plan for C as the future benchmark).
• Smoke and CO alarms properly installed and tested.
• Deposit properly registered and prescribed information served.

Proactive compliance builds trust and avoids disputes before they start.

4. Penalties: what’s at stake?
Fines for non-compliance will rise, and rogue landlord lists will become more visible. Avoid penalties by staying organised, acting fairly, and treating your property like a professional business.

Change is coming, but it doesn’t have to be disruptive. By adopting a structured, documented, and people-focused approach now, landlords can adapt confidently and stand out as trusted professionals.

Ready to future-proof your tenancies? Let’s talk.

It’s easy to get carried away when viewing a potential home. The excitement of imagining your life in a new place can cloud your judgment, but it’s important to stay calm and focus on the details. Buyers often make snap decisions they later regret simply because they didn’t pause to assess everything thoroughly.

Here are the top five mistakes to avoid when viewing a property, to help you stay sharp and make a well-informed decision.

1. Not looking beyond the cosmetic appeal

Freshly painted walls, stylish furniture, and well-maintained spaces can quickly make you feel like you’ve found "the one." But these features can be distracting and hide underlying issues.

What to do: Look beyond the décor and focus on the structure, plumbing, roof, and windows. Ask about repairs or maintenance and check for damp, cracks, or unusual smells that might not be visible at first glance.

2. Forgetting to consider the neighbourhood

You’re not just buying a house; you’re buying into a community. Consider safety, nearby schools, shops, parks, and traffic at different times of day.

What to do: Walk around the neighbourhood, even after the viewing. Visit during peak times and speak to neighbours about local amenities, noise levels, or potential issues.

3. Not factoring in future costs

Maintenance costs, utility bills, council tax, and potential renovations can add up over time and affect your budget.

What to do: Check the energy performance (EPC rating), ask about appliance age and plumbing/electrical systems, and factor in the cost of any updates before committing.

4. Letting emotions override logic

Excitement or attachment can cloud your judgment, tempting you to make an offer before considering all pros and cons.

What to do: Stay objective during viewings. Take your time, bring a friend or family member for a second opinion, and list your “must-haves” versus “nice-to-haves.”

5. Overlooking potential long-term issues

Consider the property’s suitability for 5, 10, or 20 years. Will it meet your long-term needs as your family or circumstances change?

What to do: Ask yourself if the property will meet your long-term needs. Consider space, garden expansion possibilities, and check for planning permissions or restrictions that could affect future developments.

Stay sharp, make a smart choice

Viewings are exciting, but staying objective and paying attention to details is key to finding the right property. Avoiding these common mistakes ensures you make a well-informed decision and end up with a home perfect for now and the future.

Ready to start viewing homes? Let’s find the perfect one for you,

and ensure you’re prepared for the journey.

The Decision That Shapes Your Property’s Future

One of the most significant decisions a property owner will face is whether to sell or let. Whether you're relocating, downsizing, or just assessing your long-term options, both paths have their advantages and drawbacks. With the right insight and a clear understanding of your goals, making the best choice can be simpler than you think.

Here’s a look at the pros and cons of selling versus letting to help guide your decision.

Selling: Free Up Equity, Move On

The pros:

• Immediate cash return: Selling your property gives you immediate access to the full sale price, which can be used for reinvestment, paying off debts, or funding your next purchase. If you're looking to downsize or move on quickly, selling provides the capital to do so.
• No ongoing responsibilities: Once you sell, you’re free from maintenance, tenant management, and property upkeep. No more worrying about repairs, tenant disputes, or upkeep.
• Market timing: If property values are high and demand is strong, it could be the right time to sell. This could be especially beneficial if interest rates or market conditions are favourable for a fast sale.

The cons:

• Missed long-term gains: Selling means you lose the opportunity to earn rental income or benefit from future property value increases. If the market continues to rise, you could miss out on long-term wealth-building opportunities.
• Selling costs: Estate agent fees, conveyancing costs, and potential capital gains tax (depending on your circumstances) can eat into your profits.
• The uncertainty of the next step: Once your property is sold, there’s no guarantee you’ll find the right home or investment immediately. Renting or buying in the future may be more expensive depending on market conditions.

Letting: Earning Income While Retaining Ownership

The pros:

• Steady rental income: Renting out your property provides a steady stream of income, which can supplement your salary or fund future investments. This can be a great option if you’re seeking long-term financial security.
• Property value appreciation: If your property increases in value over time, you can sell it later at a profit while continuing to receive rental income in the meantime.
• Flexibility: Renting gives you the option to return to the property later if necessary. You also have the option to let long-term and sell at a future date when the market aligns with your goals.

The cons:

• Management responsibility: As a landlord, you’ll be responsible for finding tenants, managing contracts, and handling maintenance. This can be time-consuming, especially if you have multiple properties or live far from the rental.
• Risk of tenant issues: Even with the best tenants, there’s always a chance of missed rent payments, disputes, or property damage.
• Maintenance costs: As a landlord, you must maintain the property, ensuring it’s habitable. Additionally, if the property is vacant for any period, you still bear the costs of upkeep without rental income.

Which is Right for You?

There’s no one-size-fits-all answer. Consider these factors before making your decision:

• Financial goals: Do you need immediate cash from a sale, or are you looking for long-term income? Selling is better if you need cash immediately, while letting offers ongoing income.
• Property location and market trends: High rental demand may make letting more lucrative, but if property prices are strong, selling may provide the best return.
• Time and commitment: If you’re not ready to manage tenants and maintain a property, selling may be simpler. Letting involves more work but could lead to a higher return over time.
• Long-term vision: Letting offers flexibility to hold the property for future growth, while selling releases capital for your next move.

Not sure whether to sell or let your property?

Get expert advice tailored to your specific goals and circumstances.