Jargon Reference Guide



Occurs when a seller accepts a higher offer from a third party on a property that they have agreed to sell to someone else, but have not yet exchanged contracts on.


When a buyer makes the seller a lower offer just before contracts are due to be exchanged.

Ground Rent

The annual charge levied by the freeholder to the leaseholder.


The lender may require a borrower to appoint a guarantor. Who promises to pay the borrower's debt if the borrower defaults.