Conveyancing and House Buying Glossary (UK)
Understanding the jargon makes the journey smoother. Here’s what first-time buyers need to know.
Acceptance of Offer
When a seller agrees to the buyer’s offer on the property. It’s not legally binding until contracts are exchanged. Think of it as a handshake, not a signed contract.
Agreement in Principle (AIP)
Also called a Mortgage in Principle. It’s a statement from a lender saying they’re likely to lend a set amount, based on basic checks. Estate agents often ask for this before taking your offer seriously.
Chancel Repair Search
A legal search to check if the property might be liable for costs related to repairs of a local church. Yes, really. Rare, but still possible in some areas.
Completion
This is the finish line. Ownership transfers from the seller to the buyer. You get the keys and the house becomes yours. Funds move between solicitors and the estate agent hands over the keys.
Completion Statement
A document from your solicitor showing all the money going in and out—deposit, stamp duty, legal fees. It shows exactly what needs paying and to whom before completion.
Contract Pack
Prepared by the seller’s solicitor. Includes the draft contract, property information form, and the official title documents. Your solicitor will review this to begin the legal checks.
Conveyancer
A licensed legal professional who handles the transfer of property ownership. Can be a solicitor or a specialist conveyancer. They manage the legal legwork and talk to the seller’s solicitor.
Covenant
A legal restriction or obligation attached to the property. It might stop you from making certain changes to the building or force you to maintain shared parts like driveways or gardens.
Deeds
The official documents that show who owns the property. Most are now held digitally by HM Land Registry, but your solicitor checks these during the purchase.
Deposit
Paid at exchange of contracts, usually to your solicitor—not the seller directly. This shows you’re serious. It’s separate from your mortgage deposit paid to the lender.
Disbursements
These are third-party costs your solicitor pays on your behalf—search fees, Land Registry fees, bank transfer fees. They’re not part of their own fee, but part of the total legal bill.
Draft Contract
The initial version of the contract between buyer and seller. It gets reviewed, amended, and agreed upon by both sides before signing.
Energy Performance Certificate (EPC)
A legal document rating the energy efficiency of a property from A (best) to G (worst). The seller must provide this. It can affect your running costs and renovation plans.
Enquiries
Questions raised by your solicitor after reviewing the contract pack and searches. These can relate to planning permissions, boundaries, or building work.
Exchange of Contracts
This is the point where the deal becomes legally binding. Both sides sign identical contracts. If anyone pulls out after this, there are penalties.
Fixtures and Fittings Form (TA10)
A document that lists what’s included in the sale—curtains, oven, light fittings, garden furniture. It stops confusion later.
Freehold
You own the building and the land it sits on, with no time limit. Most houses are freehold.
Ground Rent
Applies if you’re buying a leasehold property. It’s a regular payment made to the freeholder. You must know how much it is and how often it rises.
HM Land Registry (HMLR)
The official body that records property ownership. After completion, your solicitor registers your name as the new owner here. It also provides the title register and plan.
Indemnity Insurance
Insurance taken out to protect against a legal defect in the property title—like missing paperwork or unclear boundaries. It’s a workaround, not a fix.
Land Registry Search
A final check just before completion to make sure nothing’s changed in the title, like a new mortgage or a restriction.
Leasehold
You own the property but not the land. You lease it for a set number of years from the freeholder. Most flats are leasehold. Check the lease length—short leases can cause problems.
Local Authority Search
A search done through the local council. It checks planning permissions, nearby road schemes, conservation areas, enforcement notices. It’s essential, not optional.
Mortgage Offer
The formal letter from your lender saying they’ve approved your mortgage. It outlines terms, conditions, and the amount.
Mortgage Valuation
A basic check by the lender to make sure the property’s worth the amount they’re lending. It’s for their benefit, not yours.
Property Information Form (TA6)
Filled in by the seller, this form includes details like disputes with neighbours, parking arrangements, warranties, and services (gas, water, drainage).
Redemption Statement
If the seller still has a mortgage, this document shows how much they owe. It’s used to pay off the lender when the sale completes.
Searches
Your solicitor requests several searches on the property—local authority, water and drainage, environmental, and others if needed. These uncover hidden issues not visible on a viewing.
Stamp Duty Land Tax (SDLT)
A tax you pay to HMRC when buying a property. How much you pay depends on the property price and your buyer status. Always check the current rates and rules before you budget.
Survey
An optional but sensible inspection of the property’s condition. A RICS surveyor checks for structural issues, damp, roof damage, or anything costly to fix. It’s more detailed than a mortgage valuation.
Telegraphic Transfer Fee
A bank charge for sending the money from your solicitor to the seller’s solicitor on completion day. It ensures funds arrive safely and on time.
Title Plan
A map from HM Land Registry showing the boundaries of the property. It confirms what land is included in the sale.
Transfer Deed (TR1)
The document that legally transfers ownership from seller to buyer. Both parties sign it before completion. Your solicitor sends it to HM Land Registry after the sale.
Vendor
Another word for the seller. You’ll see it a lot in legal paperwork.
If you’re a first-time buyer, bookmark this. You’ll be knee-deep in these terms before you get the keys. Better to understand the language than feel lost during the process.
