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.
