Jargon Buster
Understand property related jargon.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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Valuation
A basic survey of a property to estimate its value for mortgage purposes. Mortgage lenders will insist on this before lending.
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Value
The price of a property under normal conditions, i.e. when the buyer is not forced to buy and the seller not forced to sell.
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Variable base rate
The basic rate of interest charged on a mortgage. This may change in reaction to market conditions so monthly payments can go up or down.
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Vendor
The person selling a property.
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Vodcasting ('Video Podcasting' or 'Video on demand')
A way to download video files over the internet before watching them on a computer or video-enabled MP3 player. Foxtons offer Vodcasts for all property searches.
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Void
An empty area or space.
