Glossary · GB
Shared Ownership
A scheme in which a buyer purchases a share of a home (often 25–75%) and pays rent on the remainder, with the option to buy further shares later ('staircasing').
Belgrave in London
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Around this term
Related terms.
First-Time Buyer
A purchaser who has never previously owned a residential property; in the UK they qualify for reduced Stamp Duty Land Tax and certain support schemes.
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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