Glossary · United Kingdom
Leasehold Reform
Quick answer
Legislation changing the rights of leaseholders — including cheaper lease extensions, abolition of marriage value, and restrictions on ground rents.
Next steps
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Related
Related terms
Ground Rent
A payment historically made by a leaseholder to the freeholder under the terms of a lease. Residential ground rents in England and Wales are subject to statutory restrictions.
Marriage Value
The uplift in a property's value created by combining the leasehold and freehold interests — for example on a lease extension — which the leaseholder and freeholder typically share.
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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