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Answers - Property Glossary ( UK )
Acceptance
When you are offered and accept a mortgage offer from a lender this is what you need to sign and return.
APR
Stands for 'Annual Percentage Rate' relating to interest on a loan
Applicant
The term used by an estate agent to refer to you when you are a potential buyer of a property.
Appraisal
When selling your house an estate agent will 'appraise' your property to determine a current value for it.
Arrangement Fee
Some lenders may ask for this fee for providing or 'arranging' a loan
When you are offered and accept a mortgage offer from a lender this is what you need to sign and return.
APR
Stands for 'Annual Percentage Rate' relating to interest on a loan
Applicant
The term used by an estate agent to refer to you when you are a potential buyer of a property.
Appraisal
When selling your house an estate agent will 'appraise' your property to determine a current value for it.
Arrangement Fee
Some lenders may ask for this fee for providing or 'arranging' a loan
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
Assignment
The transfer of ownership from one person to another. For example if you buy a leasehold property ownership is 'assigned' to you via the contract.
Base Rate
This is the lowest rate of interest a bank will charge when it lends you money and is used as a benchmark to set interest rates for borrowers. This rate set by the Bank of England and is reviewed several times a year. Lenders will charge borrowers a margin above the base rate.
Bridging Finance/Loan
You may need 'Bridging Finance' if you are buy
The transfer of ownership from one person to another. For example if you buy a leasehold property ownership is 'assigned' to you via the contract.
Base Rate
This is the lowest rate of interest a bank will charge when it lends you money and is used as a benchmark to set interest rates for borrowers. This rate set by the Bank of England and is reviewed several times a year. Lenders will charge borrowers a margin above the base rate.
Bridging Finance/Loan
You may need 'Bridging Finance' if you are buy
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ng a new property before selling your current house. This is to 'bridge' the gap before you have sold your property so as to complete the buying process of your new property before selling your existing home.
Broker
This is a person who advises on mortgages and loans, known as a 'mortgage broker'
Capped Rate
The maximum set interest rate you will pay on a mortgage for a set period of time. This means that the interest rate cannot go higher than the capped rate during the specified time period, usually the first few y
Broker
This is a person who advises on mortgages and loans, known as a 'mortgage broker'
Capped Rate
The maximum set interest rate you will pay on a mortgage for a set period of time. This means that the interest rate cannot go higher than the capped rate during the specified time period, usually the first few y
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ears of the loan.
Chain
This refers to a sequence of buyers and sellers. Most people who sell their homes are also buying at the same time. There can be a 'chain' of several buyers and sellers, each dependent on each other for the sale and purchase of their new homes. If one buyer or seller drops out the whole chain may collapse, leading to a domino effect where the paperwork for several properties is delayed or cancelled altogether.
Chain Free
This is when the owner of property doesn't need to sell the property in o
Chain
This refers to a sequence of buyers and sellers. Most people who sell their homes are also buying at the same time. There can be a 'chain' of several buyers and sellers, each dependent on each other for the sale and purchase of their new homes. If one buyer or seller drops out the whole chain may collapse, leading to a domino effect where the paperwork for several properties is delayed or cancelled altogether.
Chain Free
This is when the owner of property doesn't need to sell the property in o
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
der to buy another, thus it is offered chain free.
Collateral
Your house is 'Collateral' when used as a guarantee you will repay a loan to your lender. If you do not keep up with repayment your house could be sold by the lender to get back the money they have loaned you.
Completion
This is the final stage of the property buying process - when the agreed sale price has been paid by the buyer to the seller. Legal ownership has been transferred from the seller to the buyer of the property.
Contents Insurance
Th
Collateral
Your house is 'Collateral' when used as a guarantee you will repay a loan to your lender. If you do not keep up with repayment your house could be sold by the lender to get back the money they have loaned you.
Completion
This is the final stage of the property buying process - when the agreed sale price has been paid by the buyer to the seller. Legal ownership has been transferred from the seller to the buyer of the property.
Contents Insurance
Th
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
is insurance is taken out to cover/protect personal belongings that are in your home.
Contract
This is the agreement that once signed by the buyer and seller binds both parties to the sale and purchase of the property.
Conversion
This can refer to a property that has had the loft converted into a room, or a house that has been converted into flats.
Conveyancing
The name of the legal process that transfers property ownership from the seller to the buyer.
Covenant
A requirement by law on the owner of
Contract
This is the agreement that once signed by the buyer and seller binds both parties to the sale and purchase of the property.
Conversion
This can refer to a property that has had the loft converted into a room, or a house that has been converted into flats.
Conveyancing
The name of the legal process that transfers property ownership from the seller to the buyer.
Covenant
A requirement by law on the owner of
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
property to either do or not do something with their property.
CAM
Stands for Current Account Mortgage
CCJ
This stands for County Court Judgement. If you have a judgement against you for defaulting on a debt it may mean you are turned down for future loans or pay a higher interest rate.
Deeds
The legal documents regarding a property.
Default
This is a term used when you do not do as you agreed, eg. failing to make a mortgage payment. If you fail to make mortgage payments (or default), your home cou
CAM
Stands for Current Account Mortgage
CCJ
This stands for County Court Judgement. If you have a judgement against you for defaulting on a debt it may mean you are turned down for future loans or pay a higher interest rate.
Deeds
The legal documents regarding a property.
Default
This is a term used when you do not do as you agreed, eg. failing to make a mortgage payment. If you fail to make mortgage payments (or default), your home cou
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ld be repossessed.
Delayed Completion
Typically completion takes less than 28 days after the exchange of contracts. If it takes place after 28 days then it is called 'delayed completion'
Deposit
In terms of mortgages a deposit is the initial lump sum payment the buyer contributes towards the total purchase price of the property.
Disbursements
This is another word for the legal costs involved with purchasing a property.
Discounted Rate
This type of mortgage has an interest rate lower than the lender'
Delayed Completion
Typically completion takes less than 28 days after the exchange of contracts. If it takes place after 28 days then it is called 'delayed completion'
Deposit
In terms of mortgages a deposit is the initial lump sum payment the buyer contributes towards the total purchase price of the property.
Disbursements
This is another word for the legal costs involved with purchasing a property.
Discounted Rate
This type of mortgage has an interest rate lower than the lender'
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
Standard Variable Rate (SVR).
Early Repayment Charge
This is a charge or 'fee' payable if you pay part or all of your mortgage off earlier than agreed. This is used to compensate the lender for interest that would have been paid if the mortgage had run for the full time period agreed.
Equitable Interest
When a person has some legal rights to a property but not including sale of the property.
Equity
This is what you actually own - it is the difference between the market value of your property and the amount
Early Repayment Charge
This is a charge or 'fee' payable if you pay part or all of your mortgage off earlier than agreed. This is used to compensate the lender for interest that would have been paid if the mortgage had run for the full time period agreed.
Equitable Interest
When a person has some legal rights to a property but not including sale of the property.
Equity
This is what you actually own - it is the difference between the market value of your property and the amount
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
of the loan you still owe to the lender.
Exchange of Contracts
This is the point at which the buyer and seller are legally bound to complete the sale.
Execution Only
A service with no advice, just carry out the orders of a customer.
Fixed Rate Mortgage
A mortgage which has a 'fixed' rate of interest for a set period of time.
Fixtures and Fittings
These are items in a house that are included in the sale. For example lighting fixtures, carpets and so on - these should be agreed / confirmed before a sa
Exchange of Contracts
This is the point at which the buyer and seller are legally bound to complete the sale.
Execution Only
A service with no advice, just carry out the orders of a customer.
Fixed Rate Mortgage
A mortgage which has a 'fixed' rate of interest for a set period of time.
Fixtures and Fittings
These are items in a house that are included in the sale. For example lighting fixtures, carpets and so on - these should be agreed / confirmed before a sa
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
e.
Flexible Mortgage
As the name suggests this mortgage is flexible in terms of how you pay the loan back. An example could be that it allows you to make overpayments or pay off your mortgage early.
Freehold
Complete ownership of a piece of land and the property that is on it.
Gazumping
This is when a vendor (seller) accepts an offer but later rejects it to accept a higher offer by another buyer.
Gazundering
This is the opposite of gazumping - when the buyer threatens to pull out just before the exc
Flexible Mortgage
As the name suggests this mortgage is flexible in terms of how you pay the loan back. An example could be that it allows you to make overpayments or pay off your mortgage early.
Freehold
Complete ownership of a piece of land and the property that is on it.
Gazumping
This is when a vendor (seller) accepts an offer but later rejects it to accept a higher offer by another buyer.
Gazundering
This is the opposite of gazumping - when the buyer threatens to pull out just before the exc
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ange of contracts if the price is not reduced.
Gearing
Using loaned funds to progress investments. For example, buying a house with a small deposit and the rest with a mortgage and then selling the property on at a higher price, making a profit.
Ground Rent
This is rent paid annually by the leaseholder of a property to the owner of the freehold. Usually it is paid to the owners of the land on which the property/properties are built.
Guarantor
A person who agrees to guarantee that they will pay a debt or loan
Gearing
Using loaned funds to progress investments. For example, buying a house with a small deposit and the rest with a mortgage and then selling the property on at a higher price, making a profit.
Ground Rent
This is rent paid annually by the leaseholder of a property to the owner of the freehold. Usually it is paid to the owners of the land on which the property/properties are built.
Guarantor
A person who agrees to guarantee that they will pay a debt or loan
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
if you default on payment.
Home Information Pack ( HIP )
Also known as a 'Sellers Pack' this will be a mandatory Survey from the 1st of June 2007 to be produced by a home owner or selling agents via a home inspector before a property can be put on the open market. The aim is to help improve the process of buying and selling a home, it is part of the conveyancing process and will include detailed information about a property.
IFA
Independent Financial Adviser
Instruction
This is when you give an estate agent
Home Information Pack ( HIP )
Also known as a 'Sellers Pack' this will be a mandatory Survey from the 1st of June 2007 to be produced by a home owner or selling agents via a home inspector before a property can be put on the open market. The aim is to help improve the process of buying and selling a home, it is part of the conveyancing process and will include detailed information about a property.
IFA
Independent Financial Adviser
Instruction
This is when you give an estate agent
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
'Instructions' or the right to sell or let your property.
Joint / Multiple Agency
This is when you instruct more than one estate agent to market your property.
Land Certificate
The certificate that proves ownership of land issued by the land registry.
Land Registry
A government office that stores records of land ownership and any charges like a mortgage.
Lease
A legal document detailing an agreement made between a freeholder and those occupying their property for a specified period of time. It lists
Joint / Multiple Agency
This is when you instruct more than one estate agent to market your property.
Land Certificate
The certificate that proves ownership of land issued by the land registry.
Land Registry
A government office that stores records of land ownership and any charges like a mortgage.
Lease
A legal document detailing an agreement made between a freeholder and those occupying their property for a specified period of time. It lists
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
all the conditions which the leaseholder must abide by and what the landlord's responsibilities are.
Leasehold
Land or property is 'leasehold' when the owner has to pay the freeholder an annual sum of money.
Lender
A person or company that lends money for an agreed time period. They expect to have the money repaid back with interest added - your mortgage company is a lender.
LTV
Loan To Value
Maintenance Charge
A landlord charges for the annual maintenance of a property which should be agreed in yo
Leasehold
Land or property is 'leasehold' when the owner has to pay the freeholder an annual sum of money.
Lender
A person or company that lends money for an agreed time period. They expect to have the money repaid back with interest added - your mortgage company is a lender.
LTV
Loan To Value
Maintenance Charge
A landlord charges for the annual maintenance of a property which should be agreed in yo
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
r contract. This includes keeping the outside of the property in good order and gardening services in communal areas.
MIG
Mortgage Indemnity Guarantee - an insurance premium some lenders may need you to take out on certain mortgages.
B>Mortgage
Money borrowed from a lender to buy a property. The borrower agrees to use his or her property as security against it until the loan is paid back.
Mortgage Deed
A document which has the details of a mortgage arrangement.
Mortgage Offer
An offer from a lender whi
MIG
Mortgage Indemnity Guarantee - an insurance premium some lenders may need you to take out on certain mortgages.
B>Mortgage
Money borrowed from a lender to buy a property. The borrower agrees to use his or her property as security against it until the loan is paid back.
Mortgage Deed
A document which has the details of a mortgage arrangement.
Mortgage Offer
An offer from a lender whi
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ch details the terms and conditions of a loan.
Mortgagor
The individual who is borrowing money for the purpose of buying a property.
Negative Equity
When you owe more than the market value of your property, or have paid or are paying back more than a property is worth.
Offer
An offer, usually below the asking price, you make on a property.
OMV
Open Market Value - the value a property can achieve when there is a willing buyer and seller.
Redemption
This is the moment when you pay off your mo
Mortgagor
The individual who is borrowing money for the purpose of buying a property.
Negative Equity
When you owe more than the market value of your property, or have paid or are paying back more than a property is worth.
Offer
An offer, usually below the asking price, you make on a property.
OMV
Open Market Value - the value a property can achieve when there is a willing buyer and seller.
Redemption
This is the moment when you pay off your mo
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
tgage
Registered Land
Land including any property on it that is registered with the land registry.
Right Of Way
The legal access to a piece of property so as to access your own property.
ROI
Return On Investment - how much you get out of what you put in.
Searches
The process of finding out if there are any unwanted effects now or planned for the future on a property.
Sole Agency
When a single (sole) estate agent has been given the right to sell or let a property.
Stamp Duty
Tax pai
Registered Land
Land including any property on it that is registered with the land registry.
Right Of Way
The legal access to a piece of property so as to access your own property.
ROI
Return On Investment - how much you get out of what you put in.
Searches
The process of finding out if there are any unwanted effects now or planned for the future on a property.
Sole Agency
When a single (sole) estate agent has been given the right to sell or let a property.
Stamp Duty
Tax pai
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
d to the government on the purchase price of property.
Subject To Contract
The point at which both parties are free to pull out of an agreement before exchange of contracts.
Survey
A survey is the report produced by a building surveyor for the purpose of determining the value of the property and if it is structurally sound.
Tenant
A person or persons (can be a company or organisation) who is entitled to occupy a property under the terms and conditions of a tenancy agreement.
Tenure
The type of owner
Subject To Contract
The point at which both parties are free to pull out of an agreement before exchange of contracts.
Survey
A survey is the report produced by a building surveyor for the purpose of determining the value of the property and if it is structurally sound.
Tenant
A person or persons (can be a company or organisation) who is entitled to occupy a property under the terms and conditions of a tenancy agreement.
Tenure
The type of owner
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
hip of a property such as Freehold or Leasehold
Title
The legal right to ownership of a property.
Title Deeds
A Document that shows ownership of a property.
Under Offer
When a property has had an offer accepted but contracts have not been exchanged.
Valuation
A service by an estate agent or independent expert to determine the value of a property in the current market.
Vendor
The person who is selling a property.
This is meant as a general guide and should not be seen as legal advice.
Title
The legal right to ownership of a property.
Title Deeds
A Document that shows ownership of a property.
Under Offer
When a property has had an offer accepted but contracts have not been exchanged.
Valuation
A service by an estate agent or independent expert to determine the value of a property in the current market.
Vendor
The person who is selling a property.
This is meant as a general guide and should not be seen as legal advice.
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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