Estate Agency Jargon Guide
February 11, 2022
Many of us have little knowledge of the property sector despite plenty of us owning or renting property. It is in fact quite a information filled industry with many sectors and regulations set. There are many key words, phrases and abbreviation that we will meet with so let’s take a look at a bunch full of them with easy to understand jargon busting descriptions:
- PropTech: Property Technology and all things innovative within the sector.
- Lease: A legal, binding contract outlining the terms under which one party agrees to rent property owned by another party.
- Leasehold: The right to live on the land for a specified amount of time.
- Rental Agreement: The contract between the owner of a property and the renter during renting period.
- HMRC: Her Majesty’s Revenue and Customs.
- NAEA: National Association of Estate Agents.
- Chain: A group of 3 of more home owners relying on the other to sell in order to complete.
- Bridging Loan: The borrowing money for a short period usually between selling and buying a property when delays occur.
- Freehold: You own the land outright which the property sits on.
- Guarantor: A third party person who agrees to pay your rent if you don’t pay it (can include be responsible for damages / further legal costs).
- Negative Equity: When the value of real estate property falls below the outstanding balance on the mortgage used to purchase that property
- Repossession: The reclaiming ownership of property (usually by the lender) that has not been paid off, but still has value.
- Stamp Duty: A % tax you might have to pay when you buy a new home.
- Virtual Tour: A video tour made up of video footage / images of a property.
- Flying Freehold: A freehold which overhangs or underlies another freehold.
- Gazumping: Where an offer has been accepted on a property and another offer of higher value comes in to take it’s place.
- Gazundering: Where an offer has been accepted on a property and another offer of lower value comes in last minute (by the same party) to take it’s place.
- Property Misdescriptions Act (PMA): Organisation protecting against false or misleading statements in the course of estate agency business when advertising property for sale.
- EPC: Energy Performance Certificate.
- SSTC: Sold Subject o Contract.
- Probate: The name of the document which is produced upon someone’s death and their will is executed.
- Ground Rent: An annual fee paid by a Leaseholder, to a Freeholder.
You May Also Enjoy
House price growth remained subdued in August
UK annual house price growth remained broadly stable in August at 1.6% House prices were up 0.2% month on month Headlines Aug-26 Jul-26‡ Monthly Index* 550.1 549.1 Monthly Change* 0.2% -0.1% Annual Change 1.6% 1.4% Average Price (not seasonally adjusted) £275,465 £276,581 * Seasonally adjusted figure (note that monthly % changes are revised when seasonal…
Read More 
What Adds Three Weeks to Leasehold Conveyancing?
As government reforms target a four-week reduction in homebuying times, Konnect You analysis points to management packs, extra lease enquiries, third-party responses and title issues as recurring leasehold bottlenecks. The government is targeting a reduction of around four weeks in the homebuying process through reforms published in June 2026. Its roadmap proposes more property information upfront and recognises that leaseholders can face delays…
Read More 
Bank of England Money and Credit Report July 2026
Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals decreased to £4.3 billion in July, from £7.7 billion…
Read More 
Breaking Property News 1/9/26
Daily bite-sized proptech and property news in partnership with Proptech-X. infinitSpace to be new operating partner providing technology and operational infrastructure The Stack, Amsterdam’s new home for AI founders and builders, has selected infinitSpace as its Workspace Operating Partner ahead of its opening in September. The partnership will provide the technology and operational infrastructure behind The…
Read More 
Why Living Near London’s Top Schools Costs a Fortune
Homes near London’s top private schools command premiums of up to 77% The latest research from London lettings and estate agent, Benham and Reeves, has revealed that homes located close to some of the capital’s highest-ranking private schools command substantial premiums, with property values sitting as much as 77% above the wider local authority average.…
Read More 
Back to School: What It Costs to Live Near Top Secondaries
The latest research by Yopa has revealed that homebuyers face paying an average premium of more than £40,000 to live within reach of one of the nation’s top state secondary schools, with the premium climbing as high as £275,000 in the most expensive location. Yopa analysed current house prices across the postcode districts home to…
Read More