Glossary · UK
Principal Private Residence
A property that qualifies as an individual's main or primary home for the purposes of relevant UK tax rules, subject to the applicable conditions.
Belgrave in London
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Around this term
Related terms.
Energy Performance Certificate (EPC)
A certificate showing the energy efficiency of a property, rated from A to G. An EPC is generally required when a property is marketed for sale or rent in England and Wales.
Non-Resident SDLT Surcharge
An additional rate of SDLT that can apply to certain residential property purchases in England and Northern Ireland by buyers who are non-UK resident for SDLT purposes.
Property Chain
A sequence of linked property transactions where the completion of one purchase depends on the sale or purchase of another property.
Post-Handover Payment Plan
A developer payment arrangement under which part of the purchase price remains payable after the property has been completed and handed over to the buyer.
Power of Attorney (POA)
A legal authority allowing one person to act on behalf of another in specified matters, including certain property transactions where permitted.
Prime Property
High-quality property in a sought-after location, typically characterised by strong demand, superior specifications, scarcity and above-average value.
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