• Acronyms and jargon buster

    Compiled by @Ian  (contact @Ian with any updates or suggestions)

    A
    AT - Assured Tenancy (agreement)
    ARLA - Association of Residential Letting Agents
    AST - Assured Shorthold Tenancy - The agreement between the landlord and the tenant
    ASHP – Air Source Heat Pump
    ASA - Advertising Standards Authority
    Article 4 – Removal of permitted development rights by the local authority
    APR - Annual Percentage Rate
    AS - Assisted Sale
    A/C – Air Conditioning
     

    B
    BTS - Buy To Sell
    BTL - Buy To Let
    BS - Building Society
    BOE - Bank Of England
    BMRV - Below Mortgage Redemption Value
    BMV - Below Market Value
    BI - Buildings Insurance
    BC - Borough Council

     

    C
    CT - Council Tax
    CPO - Compulsory Purchase Order
    COCR - Cash On Cash Return.
    CML – Council of Mortgage Lenders
    CLTV – Combined Loan to Value
    CGT - Capital Gains Tax, a tax on the profits on a sale (currently 40% normally) CH - Central Heating
    CCJ - County Court Judgement
    CC - County Council
    CAGR - Compound Annual Growth Rate
    Contracts - The agreement set between two parties to buy/sell/lease/rent a property

     

    D
    DTI - Department of Trade and Industry
    DSS - Department of Social Security
    DSCR - Debt Service Coverage Ratio
    DPM - Damp Proof Membrane
    DPC - Damp Proof Course
    DIP - Decision in Principle
    DG - Double Glazing
    DD (2) - Direct Debit
    DD - Due Diligence - The process through which a potential buyer evaluates a property for acquisition.
    DC – District Council
    DBA – Doing Business As

     

    E
    E&OE - Errors and Omissions Excepted
    EWI – External Wall Insulation
    ERC - Early repayment charges
    EPC - Energy performance certificate grades the energy efficiency of a property
    EDMO - Empty Dwelling Management Orders
    EDC - Exchange with a Delayed Completion
    ECO – Energy Companies Obligation
    EA - Estate Agent

     

    F
    FTB - First Time Buyer
    FSS - Full Structural Survey
    PSM – Per Square Metre
    PSF – Per Square Foot
    FSBO – For Sale By Owner
    FSA - Financial Services Authority
    FR- fixed rate
    FMV – Fair Market Value
    FLEA - Fire, Lightning, Earthquake, Aircraft (insurance)
    F - Freehold- Ownership of property in perpetuity

     

    G
    GY - Gross Yield, the annual rent as a percentage of the cost or value of the property
    GRQ - Get Rich Quick
    GR & NR - Gross & Net Return
    GP - Gross Profit
    GFCH - Gas Fired Central Heating
    GDV - Gross Development Value
    GD – Green Deal
    GCH - Gas Central Heating

     

    H
    HVAC – Heating, Ventilation and Air Conditioning
    HMRC - Her Majesty's Revenue & Customs
    HR - Home Report, sellers must have a Home Report prior to presenting their property to the market ( Scotland Only)
    HPI - House Price Index
    HOA – Home Owners Association (usually USA)
    HMO - house of multiple occupancy - licensed and unlicensed
    HIPS - Home Information Packs
    HHSRS - Housing Health and Safety Rating System
    HB - Housing Benefit
    HA - Housing Authority

     

    I
    ITEPA – Income Tax (Earnings and Pensions) Act
    ISA - Individual Savings Account
    IRR - Internal Rate Retention / Internal Rate Of Return
    IR - Inland Revenue
    IP – Intellectual Property
    IO - Interest only: A mortgage where capital debt is held off until the end of the term
    IMHO – In my humble/honest opinion
    IFA - Independent Financial Advisor
    IC - Instalment Contract

     

    J
    JVP - Joint Venture Partner
    JV - Joint Venture

     

    K
    K.P.I. - Key Performance Indicators - Measure everything
    KFI - Document mortgage broker provides stating repayment terms etc and 'key facts'

     

     

    L
    LTV Ratio or LTV % - How much mortgage/loan you have in relation to how much your property is worth. A ratio to which a lender will fund a purchase
    LTV - loan to value.
    LTB - Let To Buy
    LOI – Letter of Intent
    LO - Lease Option
    LL - Landlord
    LHA - Local Housing Authority
    LESA – Landlords Energy Savings Allowance
    LA(2) - local authority
    LA - letting agent
    L2R – let to rent

     

    M
    MV - Market Value. The price that a property is valued at based on comparable properties, market conditions and a price of the property which is the highest price a buyer is likely to pay and the lowest price a vendor is likely to sell for
    MIP - Mortgage Indemnity Premium
    MIG - Mortgage Indemnity Guarantee
    MH - Mortgage Host – using a partner (that can get lending) to buy a property, your interest secured with a Deed of Trust
    MAP - Mortgage Agreement in Principle

     

    N
    NPV - Net Present Value
    NP – Net Profit
    NMD - No Money
    NI - National Insurance
    NLA – National Landlords Association
    NHBC - National House Building Council Scheme
    NEG - Negotiable
    NDA – Non-Disclosure Agreement
    NALS - National Association of Letting agents
    NAEA - National Association of Estate Agents

     

    O
    OTO – Open to offers
    OPM - Other People’s Money: Using other people’s money to purchase properties
    OP - Original Poster
    OO - Owner Occupier
    OMV - Open Market Value
    OIRO - Offers In the Region Of
    OIEO - Offers In Excess Of
    OFT - Office of Fair Trading
    OFCH – Oil Fired Central Heating
    ODPM - Office of the Deputy Prime Minister
    OCH - Oil Central Heating
    OBO – Or Best Offer

     

    P
    PV – Present Value
    PPR - Principle Private Residence
    PP - purchase price
    PP - Planning Permission
    PoA – Power of Attorney
    POA - Price On Application
    P&L - Profit & Loss
    PI - Professional Indemnity (insurance)
    PCM - Per Calendar Month
    PA - Per Annum / Personal Assistant

     

    Q
    QL - Qualified Lead - Vendor has been contacted and a certain level of motivation to sell the property has been determined and that information is now being sold.
    QE - Quantitative Easing

     

    R

    RT - Regulated Tenancy (agreement)
    RR - Rent Review
    RPI - Retail Price Index
    RP - Redemption Penalty
    ROR - Rate Of Return
    ROI - Return On Investment
    ROE - Return On Equity
    ROCE – Return on Capital Employed
    RICS - Royal Institute of Chartered Surveyors
    RI - Rental Income
    RHI – Renewable Heat Incentive
    REO – Real Estate Owned (reposed by bank)
    R&M - Repair and Maintenance
    R&D - Research and Development
    R2R – Rent to Rent

     

    S
    SARB/SRB - Sale and Rent Back (now illegal)
    SB - Scum Bag tenant who doesn't pay!
    SD – Stamp duty
    SDLT - Stamp Duty Land Tax
    Section 106 -
    a mechanism which make a development proposal acceptable in planning terms, which would not otherwise be acceptable.
    SVR - Standard Variable Rate - Mortgage
    SV- surveyor valuation
    STR - Sell To Rent
    STC - Subject To Contract
    SSTCM - Sold Subject To Concluded Missives
    SSTC - Sold Subject To Contract
    SPV – Solar Photo Voltaic
    SO - Standing Order
    SMS - Short Message Service or text messages
    Section 21 – Notice which must be served to end a tenancy

     

    T
    TR- Tracker rate
    TPO (2) – Tree Preservation Order
    TPO – The Property Ombudsman
    TPL – Third Party Liability
    TLA – Three Letter Acronyms
    T in B – Trustee in Bankruptcy
    TIC – Tenants in Common
    TDS - Tenancy Deposit Scheme
    TBA - To Be Advised /Agreed
    TB – Tenant Buyer
    TA - Tenancy Agreement
    T/A – Trading As

     

    U
    UKPT – UK Property Traders

     

    V

    Vendor – The person selling the property
    VBR – Variable Base Rate
    VAT – Value added tax

     

    W
    WACH – Warm air central heating

     

    X

     

    Y

    Yield – Income from a property calculated as a percentage of its value

     

     

     

     

    Z