Glossary · GB
Proceedable Buyer
A buyer in a position to move forward immediately — finance in principle agreed and, if relevant, their own sale secured — so a transaction can progress without delay.
Belgrave in London
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Around this term
Related terms.
Cash Buyer
A purchaser buying without a mortgage, with funds readily available — a position that strengthens an offer by removing lender delays and chain risk.
Mortgage in Principle
An indication from a lender of how much a prospective borrower may be able to borrow, based on preliminary information and subject to full underwriting.
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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