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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Deeds
Legal documents proving ownership, generally held by the mortgage lender.
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Deeds release or discharge fee
The fee charged by lenders at the end of a mortgage term to cover the administrative costs of transferring the property ownership documents to the borrower.
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Deflation
A situation in which prices are falling (the opposite situation to inflation).
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Deposit
A sum of money paid by the buyer on exchange of contracts.
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Depreciation
The decline or reduction in the value of a property caused by changes in market conditions (the opposite of appreciation).
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Detached
Term used to describe a property that stands alone and is separated from all others.
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Development
A newly built residence or an older property that has been refurbished and modernised.
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Disbursements
Fees paid by the buyer's solicitor on the buyer's behalf such as stamp duty, land registry and search fees.
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Discharge
Paying off a mortgage.
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Discount mortgage
Mortgages charged at a rate discounted from the published bank standard variable rate for a set period of time. The rates are variable and are subject to go up or down in line with any changes to the Bank of England base rate.
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Down valuation
When the lender restricts the amount you can borrow after the surveyor's valuation report indicates the property is not worth the sum sought.
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Draft contract
Preliminary version of the contract.
