Jargon Buster

Land Registry

The Land Registry is a Government Department which, on behalf of the Crown, guarantees title to registered estates and interests in land. Established in 1862, The Land Registry currently has 24 regional offices in England and Wales, each providing land registration services for different counties and unitary authorities.

Land Registry Fee

The payment to the Land Registry which is required to register legal ownership of a property.

Lease

A legal document by which the freehold (or leasehold) owner of a property lets the premises or a part of it to another party for a specified length of time, after the expiry of which, ownership may revert to the freeholder or superior leaseholder.

Leasehold

Denotes the ownership of a property by way of its tenure with a given timescale for that ownership. This can be a varying term but commonly 99 years, 125 years or 999 years.

Legal Fees

The amount of money that needs to be paid to a conveyancer for their fees which will often include a breakdown of all other fees they will have incurred on your behalf.

Listed Building

A building which is considered to be of special architectural or historic interest which cannot be altered or demolished without the consent of the local government.

Loan to Value (LTV)

The size of the loan as a percentage of the value of the property or the purchase price of the property.

Local Authority Search

Enquiries raised by the buyer’s conveyancer to the local authority regarding any outstanding enforcement or future development issues within the immediate area surrounding that property, ie. road alteration scheme, proposed new development.