in case you wonder what we're sometimes talking about.

Charge: A mortgage deed which building societies, banks or other lenders require borrowers to sign. It's registered against the property until the loan is repaid.

Charge Certificate: An official document issued by the Land Registry to the owner of a registered charge as proof of ownership.

Completion: The date when the purchaser and vendor complete the sale or purchase of land or property.

Contract: The formal document detailing the terms of sale, prepared by the vendor's solicitors and sent to the purchaser's solicitors.

Conveyance: A deed which transfers unregistered freehold land.

Draft Transfer: A legal document issued by the vendor's solicitors to the purchaser's solicitors setting out the T&C's of sale.

Edwardian: Property built between approx. 1901 - 1910.

Elizabethan: Property built between approx. 1560 - 1603.

Engrossment: When the property draft deeds are approved they are engrossed for the vendor and purchaser to sign.

Equity: The difference between what is owed by way of mortgage on a property and the value of the property.

Exchange of Contracts: The date upon which the signed contracts are exchanged between the vendor's and purchaser's solicitors and there becomes a legal commitment on both buyer and seller.

Freehold: This means absolute ownership of a property, although technically all land is held from the Crown.

Georgian: Property built between approx. 1714 - 1800.

Ground Rent: Rent paid to the owner of freehold land by a person who has a lease.

Guarantor: Someone who guarantees another's obligation.

Home Information Pack: Government legislation now requires any residential property marketed with vacant possession to have a HIP which includes an Energy Performance Certificate, Evidence of Title and Standard Searches.

Land Certificate: Land document issued by the Land Registry to the owner of registered land as proof of ownership. It includes a copy of the register and the plan showing the extent of the land.

Land Registry: A Government agency responsible for the registration of title to land.

Land Search: A formal application for an inspection of the Land Registry register. A certificate is issued showing the current situation of the land in question.

Local Search: A questionnaire to a local authority by a purchaser's solicitor to verify whether a property is affected by planning proposals, road widening or similar schemes.

Mortgage Offer: A formal offer of mortgage issued by a building society, bank or other lender.

Mortgagee: The building society, bank or other lender to which the property is mortgaged.

Mortgage Indemnity: Where applicants require a mortgage which exceeds the lender's normal limits they may require the applicant to take out a mortgage indemnity policy with an insurance company for the difference.

Mortgagor: The person who takes out the mortgage.

Office Copy Entries: A Land Registry term for copies of registers and plans, officially marked ‘office copy’.

Pre-Contract Enquiries: Enquiries made by the purchaser's solicitors to the vendor's solicitors requiring information on the property being purchased prior to completion.

Private Treaty: Describes the method of sale of property when it is offered other than by auction or tender.

Regency: Property built between approx. 1800 - 1837.

Repayment Mortgage: A mortgage which involves the repayment of both capital and interest in monthly installments within a specified term of years.

Reserve Price: Properties for sale by auction are withdrawn if the highest bid does not reach the reserve price.

Stamp Duty Land Tax: The Government tax on the sale of land and property which is related to the sale price. Rates vary according to current legislation - Derek Spires will provide present levels upon request.

Subject to Contract: This means that nothing is binding on either the vendor or purchaser until the contracts are exchanged.

Tenure: The vendor's title to a property, i.e. freehold, leasehold or crownhold.

Title Deed: The legal documents including all matters which relate to the property since it was built.

Transfer: The legal transfer of ownership on completion of the sale of registered land or property.

Tudor: Property built between approx. 1485 - 1550.

Unregistered Land: Land which is not registered with the Land Registry. Proof of ownership is by production of the Deeds.

Vacant Possession: This means that the property being offered will be vacant upon completion of the sale.

Vendor: The person who sells property or land.

Victorian: Property built between approx. 1837 - 1901.