Jargon Buster

A loan that ‘bridges the gap’ between the sale of your present property and the purchase of your new home – when the dates don't coincide (or until long-term finance comes through from your mortgage lender).

Your newly built David Wilson home will be covered by the Buildmark 10-year warranty and insurance cover provided by the National House Building Council. You will receive an NHBC booklet containing details of the warranty.

The finalising of the sale when all the monies are passed over and the buyer has legal right to the property.

Entered into by the seller and buyer of a property, which only becomes binding on exchange of contracts – when both parties have signed the contract and the purchaser has handed over the agreed deposit to the solicitor.

A restriction or condition affecting the property, which must be complied with

All the legal documents relating to the property

A part payment of the agreed purchase price paid by the buyer on exchange of contracts (or ‘conclusion of missives’ in Scotland).

In future, the sellers of properties requiring a Home Information Pack in England and Wales will be required to provide a copy of a valid Energy Performance Certificate (EPC), which gives details on the energy efficiency of the property.

The contracts are in fact two identical documents, one signed by the seller and the other by the purchaser. When these are exchanged, both sides are legally bound to complete the transaction.

The full ownership of both the property and the land on which it stands.

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Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.