Glossary
Leasehold
Ownership of a property for a finite term granted by a freeholder, typically with a ground rent.
Around this term
Adjacent entries.
Freehold
Outright ownership of the land and any buildings on it, in perpetuity.
Guide price
An indicative range published to invite offers; not binding on the seller.
KYC
Know Your Customer — the identity + source-of-funds verification required before brokerages may transact.
Mortgage in principle
A lender's indicative confirmation of how much they would lend; not a binding offer.
NOI
Net Operating Income — gross rental income less operating expenses; the numerator in a property cap-rate calculation.
Off-market
A property offered to a curated audience without public advertising. Synonymous with "whisper" mandate.
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