Removals Guidelines

Chapter 1

The first chapter of the guide share some essential and most common words and terms used by

the companies for relocation and some of them are important for the buying and selling of your

house or office.

A-Z Glossary for your Relocation Terms

A

Advance – A certain amount of upfront payment you make.

Annual Percentage Rate- shown in percentage, this is the total change of money you lend for

the loan.

B

Bank Base Rate- The bank of England sets a particular interest rate which is also used by high

street banks to calculate the interest rate charged by them on loans you lend.

Building Insurance- The insurance cover of your building against all the odds and risks, like fire

and flood.

Building Survey- A survey of your residence or office prior to your move, for planning and

measuring the scale of your move.

C

Chartered Survey – They are highly trained and professional surveyors. They provide guidelines

and advice on your property related issues.

Complete – The end of every process let it be buying, selling or relocation.

Conservation Area – Piece of land having protection awarded because of its political of historic

value.

Conveyance – Legal process for the transfer and ownership of property.

D

Deeds – the document to show right and ownership of the documents.

DEA – also known as Domestic Energy Assessor is a single fellow that visits your house or office

for marketing and selling of your business.

E

EPC – Also known as Energy Performance Certificate is a document provided by the Edberg

conservation organization that is issued if you follow proper energy saving measures.

F

Freehold – it describes in detail the ownership of your property.

G

Galumphing – Is, when a seller accepts your offer and then by annulling t accepts the offer of

other person offering higher rate.

Ground Rent – It is a charge you pay when you live at a leasehold property.

H

HIP – Home Information Pack

Home Condition Report – a survey report that in details tells about the construction and

condition of your home and it is issued by the government authorities.

Home Report – a mandatory report to sell your property in Wales and Scotland, it includes

three things a single survey, an energy report and Property Questionnaire.

I

Inventory – a detailed list of all your possessions.

L

Land Registry – a title of your land and property in hold of the registering body in Wales and

England for buying and selling purpose.

Letting – An arrangement in which a land is owned on temporary bases by paying some rent.

Listed – A building or property given special consideration like historical or political.

M

Mortgage – A secured loan over a property

N

New Build – property that has just been built and sold by the building company

P

Planning Permission – an authorization required in order to build something i=on the purchased

land or changing the use of land and buildings you own.

Property Questionnaire – An essential document for the sellers in Scotland, this helps the

authorities to give proper information about the property.

Q

Quotes – Estimated or sometimes a final price given for your move.

R

Remortgage – repaying your mortgage that takes out the previous mortgage paid.

Repossessed – The legal term relating to a property in which a borrower has not been able to

pay the loan, installments and the property is auctioned.

S

Searches – This involves a search of files of a particular property in the area held by the local

authorities.

Solicitor – a lawyer offering legal services outside the court.

Survey - a house survey prior to the move for planning

T

Tendency Deposit Scheme – Deposits paid by the tenants are out inside the secure account for

further use. These are usually to be paid back to them when they leave the house.

V

Valuation – The worth of your home.

Vendor – The person who is selling the home.