Glossary · United Kingdom
Peppercorn Rent
Quick answer
A nominal rent with little or no financial value, commonly used in modern leasehold arrangements where a financial ground rent is not payable.
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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.
Leasehold
A form of property ownership where the buyer acquires the right to occupy a property for the remaining term of a lease granted by the freeholder.
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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