LEGAL
Jargon-busting!
Spring is just around the corner and with it comes what is traditionally the busiest time of the year for people putting their houses on the market. Finding your dream home could be closer than you think but, as with any significant purchase, it’s important to understand what you’re getting into. Choosing a CLC-regulated conveyancer to guide you through the complex process and protect your interests is a good start, but Stephen Ward, Director of Strategy and External Relations at the Council of Licenced Conveyancers has also put together this handy jargon-buster
Conveyancing: The transfer of legal ownership of property or land from one party to another. Boundaries: The physical limits of your property, often defined by hedges, fences and walls. Chattels: Moveable personal property such as items of furniture or curtains that are not part of the sale price unless otherwise agreed. Covenant: A legally binding obligation that dictates what you can or cannot do on the property or land. Conservation area: An area of special architectural or historic interest where extra planning controls may be imposed to ensure that the look and character is preserved. Deed of transfer: The document by which ownership of the property is formally transferred. Defect in title: A problem with the legal ownership of the property, such as missing documents, boundary disputes, or unclear rights of way, which can create legal risks for the buyer. Disbursement: Costs incurred by your conveyancer, such as Land Registry and search fees, which are passed on to you. Easement: The legal right to use someone else’s land for a specific, limited purpose, for example, as a right of way. Equity: The difference between the value of a property and the amount owed on the mortgage. Fixtures and fittings: Items that have been fixed or fitted – such as lights and bathroom suites – which are presumed to be included in the sale.
Searches: Carried out by your conveyancer with organisations that have information about the property you are intending to buy. Stamp Duty Land Tax (SDLT): Payable if you buy a property or land worth over a certain amount in England and Northern Ireland. The current threshold is £125,000 or £300,000 if it is your first home. There are different taxes for Scotland and Wales. Subject to contract: Negotiations are ongoing, but the sale has not yet been legally agreed.
Freehold: Complete ownership of the property and the land it is built on with no time limit. Leasehold: The land is owned by a freeholder who grants buyers the right to occupy it for a period of time – typically 99 years – in return for ground rent, which can increase significantly over time. Management company: Applying to leasehold properties such as flats, this is the company set up to handle a landlord’s obligation under the lease. Typically, the company will demand a regular service charge to cover the cost of maintaining the building and any communal areas. Property information form (TA6): Questionnaire completed by the seller to provide potential buyers with detailed information about the property and any issues they should be aware of.
Title deeds: Formal documents showing who owns the property and the land it’s on.
Your conveyancer is there to help and protect your interests at every stage of the process, so don’t be afraid to ask if there is something you don’t understand. You can find a list of CLC- regulated conveyancers at clc-uk.org
84 First Time Buyer February/March 2026
Made with FlippingBook Digital Proposal Creator