Bank draft – a cheque drawn by a bank and which cannot be stopped.

Charge – legal term synonymous with mortgage.

Conservation Area – an area protected from modern development by a local authority. All proposed changes to a dwelling within the area need approval first.

Deed/title deed – a document usually a conveyance which is executed by the vendor, and conveys unregistered property to the purchaser. (Also describes Land Certificate).

Exchange – short for exchange of contracts. When the contract is exchanged it becomes enforceable in law by either vendor or purchaser.

Fee simple – legal term denotes the property is freehold (owned in perpetuity)

Gazumping – whereby the vendor accepts a higher offer than the original purchaser, thereby pushing the first buyer out of the picture. Happens in a bouyant house market where property is selling quickly.

Gazundering – whereby the purchaser reduces the agreed purchase price at the last possible moment in the pre-exchange of contract period. More prevalent in a buyers market.

Land – in legal terms means land and any building on it.

Land certificate – a copy of the register issued by the Land Registry, which counts as the title deed.

Lease – a document which grants someone the right to have the property for a stated number of years.

Subject to contract – a phrase which, if incorporated in a document, means that document shall not be a contract, or evidence thereof.