Glossary · GB
Encumbrance
Any claim, charge, or restriction on a property — such as a mortgage, lien, easement, or covenant — that may affect its value or the owner's ability to sell.
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Around this term
Related terms.
Lien
A legal right allowing a creditor to retain or claim against a property until a debt secured on it is paid — a form of encumbrance on the title.
Restrictive Covenant
A binding obligation in a title that limits how land may be used — for example barring commercial use or further building — and runs with the land to future owners.
Additional Property Surcharge
An additional SDLT charge that can apply when an individual purchases an additional residential property, subject to the applicable rules and exemptions.
Adverse Possession
The legal process by which someone who has openly occupied land they do not own for a qualifying period may apply to become its registered owner. Colloquially 'squatter's rights'.
Amortisation
The gradual repayment of a loan's capital over its term through scheduled instalments, steadily reducing the outstanding balance.
Asking Price
The price at which a property is initially offered for sale by the seller. The final transaction price may be higher or lower.
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