Glossary · UK
Property Chain
A sequence of linked property transactions where the completion of one purchase depends on the sale or purchase of another property.
Belgrave in London
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Around this term
Related terms.
Completion
The point at which the purchase price is transferred, legal ownership passes to the buyer and the transaction is completed.
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.
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.
Prime Property
High-quality property in a sought-after location, typically characterised by strong demand, superior specifications, scarcity and above-average value.
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.
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