Jargon Reference Guide



 

Deeds


Legal title documents proving ownership. The deeds will be held by the mortgage lender.

Deposit


A sum of money (usually 10% of the property value) paid by the buyer on exchange of contracts.

Detached


Term used to describe a property that stands alone and is separated from all others.

Development


A newly built residence or an older property which has been refurbished and modernised.

Dilapidations


Any disrepair or damage to a rented property.

Disbursements


Fees paid by the buyer's solicitor on the buyer's behalf such as stamp duty, land registry and search fees.

Discharge


Paying off a mortgage.

Draft Contract


Preliminary, unconfirmed version of the contract.