We know how confusing and complicated the property industry and its processes can be, and the jargon doesn’t make it any easier! So here is a helpful A-Z glossary of terms you might come across along your property journey, with simple definitions to help you get to grips with everything!
A
Accessibility – how easy it is to reach or use a property, including transport links, step-free access and suitability for people with disabilities.
Agent – a professional who markets and negotiates the sale or rental of a property on behalf of the owner.
Ancillary accomodation – a secondary living space linked to the main property, such as an annexe or “granny flat”.
Apartment – a self-contained home within a larger building.
Appraisal – an agent’s estimate of a property’s market value.
Arrears – money that is overdue, such as unpaid rent or mortgage payments.
Auction – a method of selling property where buyers bid, and the highest bid wins.
B
Bills included – rent covers utilities and sometimes council tax/broadband.
Bungalow – a single-storey house.
Buyer – the person purchasing a property.
C
Catchment area – within the area for a sought-after school.
Chain – a sequence of linked property transactions where each purchase depends on another sale completing.
Commonhold – a form of ownership where individuals own their unit and share ownership of common areas, without a lease.
Completion – the day money changes hands and the buyer gets the keys.
Contract – a legally binding agreement between buyer and seller.
Conveyancing – the legal process of transferring property ownership.
Council tax – a local tax paid by residents to fund local services.
D
Deed – a legal document confirming ownership of a property.
Deposit – money paid upfront to secure a property purchase or rental agreement.
Detached – a property that stands alone and is not joined to another building.
Developer – a company or person who builds or renovates properties for sale.
Downsizing – moving to a smaller home.
E
EPC rating – Energy Performance Certificate rating showing how energy-efficient a property is, ranked A-G).
Exchange – the point in a sale when contracts are signed and become legally binding.
Extension – an addition built onto an existing property to increase space.
Estate agent – a businedd that helps people to buy, sell or rent property.
F
Fees – charges for services, such as agent or legal fees.
Find an agent – a service or tool to help choose an estate agent.
First time buyer – someone buying a property for the first time.
Fixer-upper – a cheaper property requiring improvement.
Flat – a self-contained home within a larger building.
Freehold – ownership of a property and the land it stands on, indefinitely.
G
Gazump – when a seller accepts a higher offer just before exchange of contracts.
Gazunder – when a buyer lowers their offer just before exchange of contracts.
Greener choice – a property marketed as energy-efficient or environmentally friendly.
Ground rent – a fee paid by a leaseholder to the freeholder.
Guarantor – someone who agrees to cover rent or mortgage payments if the tenant or borrower cannot.
Guide price – an estimated price set to guide buyers.
H
Housebuilder – a company that builds new homes.
I
Instruction – when a seller formally appoints an agent to market their property.
J
Joint listing – when two or more agents are instructed to market a property for a seller.
Joint tenancy – ownership by two or more people with equal rights.
K
Kerb appeal – how attractive the house is from the street.
Keyword – a search term used to find properties with specific characteristics.
L
Landlord – the owner of a rental property.
Layers – map or search filters that show additional information, such as travel times, house prices, crime levels, and so on.
Lease – a legal agreement allowing someone to occupy a property for a set time.
Leasehold – ownership of a property for a fixed term, but not the land it stands on.
Listing – a property advertised for sale or rent.
Listed (Grade I, II, III, etc.) – a building protected due to historical or architectural importance.
M
Memorandum of sale – document confirming the details of an agreed sale.
Mews house – a property found in cities, often converted from stables and typically in a courtyard setting.
N
New build – a newly constructed property that has never been lived in.
O
Offer – the price a buyer proposes to pay for a property.
Off-plan – buying a property before it has been built, based on plans
Offer in excess of – indicates the seller expects offers above the stated price.
Only With Us – properties marketed by OnTheMarket before other property portals.
Open house – a scheduled viewing time when multiple buyers can visit without appointments.
Open-plan living – kitchen/living/dining space without dividing walls.
OnTheMarket – a UK property portal aiming to provide the best experience for both agents and property seekers.
P
Parking – availability of off-street, on-street or allocated parking spaces.
Peppercorn rent – a very small or nominal ground rent.
Pet friendly – a rental property where pets are allowed.
Price on application – the price is available only by contacting the agent.
Property portal – a website that advertises properties for sale or rent, on behalf of agents.
Property type – the category of property, such as detached, semi-detached, flat, bungalow, etc.
Q
R
Reduced – a property whose asking price has been lowered.
Rental – a property available to let rather than buy.
Renters’ Rights Act – recent legislation aimed at improving protections for tenants, coming in stages in 2026.
Repossession – a property taken back by a lender due to missed mortgage payments.
Restrictive Covenant – a legal rule limiting what can be done with a property.
Retirement property – housing designed specifically for older people.
S
Searches (Local Authority Searches) – checks carried out by solicitors about the property and area.
Semi-detached – a property attached to one other property by a shared wall.
Shared accommodation – a property where facilities are shared with other occupants.
Shared ownership – a scheme where a buyer purchases a share of a property and payes rent on the rest.
Smart home – a house fitted with app-controlled heating, lighting and security.
Sold Subject to Contract (SSTC) – an offer has been accepted but contracts have not yet been exchanged.
Sold Subject to Planning (SSTP) – a sale agreed depending on planning permission being granted.
Solicitor – a legal professional who handles the conveyancing process.
Stamp duty – a government tax paid when buying a property over a certain price.
Student accommodation – housing designed specifically for students.
Survey – a professional inspection of a property’s condition.
T
Tenancy – the legal argument between landlord and tenant.
Tenure – a property in a row of houses joined on both sides.
Turnkey property – a home that is fully-furnished and ready to move into with no work needed.
U
Under offer – an offer has been made and is being considered or processed.
Upsizing – moving to a larger home.
Utilities – essential services such as water, gas, electricity and broadband.
V
Valuation – a professional assessment of a property’s market value.
Vendor – the seller of a property.
W
X
Y
Z
Zero-deposit – a rental option where tenants don’t pay a traditional deposit.
