Jargon Buster

A B C D E F G I J L M N O P R S T U V Y

Gazumping

When a vendor accepts an offer for the property from a third party for a higher price despite already having agreed a sale to the original buyer.

Gazundering

When a buyer makes a reduced offer on the property prior to exchange of contracts.

round Rent

A fixed annual charge levied by the freeholder to the leaseholder.

Guarantor

This is someone who is prepared to promise to pay the borrowers debt if the borrower defaults.