Property and Real Estate

Glossary - Terminology

Buy to Let - a type of mortgage that is offered to a potential landlord. there may be differences in the terms and conditions from a normal mortgage.
Estate Agent - A person or organisation that will act as an agent for a vendor or landlord.
Interest Rate - the percentage of the amount being borrowed that is added onto the capital each year in a mortgage or other lending facility.
Landlord - A person or organisation who rents out a property.
LTV - Loan To Value, a calcualtion a lender makes of how much they will lend to a borrower against the value of a property or real estate.
Offer - an offer made to a potential borrower by a lender for an amount with terms and conditions.
Owner/Occupier - a phrase used to describe somebody that owns a house and lives in it, it may be that they have a mortgage on the property and so the lender actually has the first interest in the property.
Property Ladder - used to describe the system of buying a first property and then selling it to buy a more expensive property. The first rung is the first property.
Renting - Term used to describe paying money to a Landlord in order for a person to use a property as their own dwelling.
Vendor - a person or organistion wishing to selling a property or real estate which they own.
Tenant - a person or organisation renting a property from a landlord.