Glossary · GB
House in Multiple Occupation (HMO)
A property rented to several unrelated households sharing facilities; larger HMOs require a licence and must meet specific safety and amenity standards.
Belgrave in London
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Around this term
Related terms.
Buy-to-Let
The purchase of a property with the intention of renting it to tenants, generally as an investment designed to generate rental income and potentially capital growth.
Rental Property
A residential or commercial property made available to tenants under a tenancy, lease or other rental agreement in return for rent.
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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