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
Mansion Tax on Homes over £2 million
Comment on Mansion Tax being introduced for homes over £2 million and £5 million from April 2028 Colleen Babcock, Rightmove’s property expert says: “The property market needs less taxation not more, to encourage and enable movement. Today’s announcement of a Mansion Tax could lead to some distortion at the top end of the market, particularly…
Read More 
Autumn Budget 2025: Property Industry Reacts
The Autumn Budget has confirmed a series of major housing and property tax reforms that will reshape the market over the coming years. The measures place particular emphasis on higher value homes, revised council tax structures and long term planning reform. Below is a breakdown of the announcements that directly affect the property market, together…
Read More 
Solutions to fix construction skills
The Centre for Social Justice (CSJ) has released a report titled, ‘Skills to Build: Fixing Britain’s construction workforce crisis.’ After speaking to several organizations and having roundtables to garner a wide understanding of the sectors’ perspectives and needs, they have proposed twenty six recommendations that will fix the issues underpinning the skills crisis. Richard Beresford,…
Read More
Budget Commentary – Mansion Tax, Business Rates & Planning Reform
Andrew Teacher, Co-founder at LauderTeacher, one of the UK’s leading advisors on real estate communications, investor relations and a former spokesman for the BPF, comments on the potential Budget. Mansion tax “Nobody likes paying tax, but the reality is a council tax revaluation is long overdue. Rather than distorting the market, which is what a…
Read More
Budget 2025 market data & home-mover and agent insight
Speculation about property tax changes is fuelling uncertainty across much of the market Rightmove research found that home-movers would favour staggered stamp duty payments, while a poll of estate agents also suggested that staggered payments would be a preferable change to shifting payment to the seller Rightmove data on rumoured property tax changes Mansion Tax…
Read More 
Breaking Property News 24/11/25
Daily bite-sized proptech and property news in partnership with Proptech-X. Symple resolves four core issues in the new Renter’s Rights Act Automating compliance in the new PRS landscape The Renters’ Rights Act has raised the bar for private landlords in England in terms of property condition, hazard resolution, evidence of compliance and regulatory registration. Symple…
Read More