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Land registry
fee
Paid to the Land Registry to register 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 that the ownership of the property is by way of
a lease.
Lender’s arrangement fees
Charge passed on to the buyer by the lender for arranging
a loan.
Lender’s legal fees
The fees incurred by the lender when arranging a mortgage.
These costs are passed on to the buyer.
Listed
building
One officially listed as being of special architectural
or historic interest, which cannot be demolished or altered
without (local) government consent.
Loan
to value (LTV)
The size of the mortgage as a percentage of the property’s
value.
Local authority search
Procedure whereby a buyer's solicitor makes an enquiry
to the local council regarding any outstanding enforcement
or future development issues which might affect the property
or immediate area. |
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