Jargon

Don’t know your Abstract Title from your Deeds of Sale? Then use our jargon buster for a simple explanation of all the weird and wonderful phrases affecting your nest.

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Arrears
Monies unpaid by the tenant in whole or in part after the rental due date specified in the tenancy agreement.
Assignment
The transfer of ownership of an insurance policy or lease. If you are buying a leasehold flat, for example, ownership is 'assigned' to you through the contract.
AST
An Assured Shorthold Tenancy (AST) is the usual form of letting for a private tenant renting from a private landlord; where the tenancy began on or after 15 January 1989; the annual rent does not exceed £25,000; the house or flat is let as separate accommodation; and is the tenant's main home. It is also a form of assured tenancy which gives landlords an absolute right to repossession after a fixed term under the 'shorthold' ground. Tenancies set up after 28 February 1997 can be for any length of time the landlord wishes to offer.