Affordable Housing - These are homes provided at below-market prices through Government backed home-ownership programmes such as Shared Equity HomeBuy Schemes, as well as social renting from Registered Social Landlords. The Homes and Communities Agency is responsible for the delivery of these schemes, and the Tenant Services Authority is the watchdog for social tenants and the regulator of social landlords.
Assent - The formal document required to transfer ownership of a property to a person entitled following the death of the owner.
Advance - This is the amount of money being provided by your mortgage lender to assist with the purchase. You should note that often the advance received in our account is less than the amount you have actually agreed to borrow due to your lender deducting their fees and charges. We will provide you with a detailed breakdown of your case finances once we know exactly what sums of money we are expecting.
AST - An Assured Shorthold Tenancy – the default and most common form of tenancy agreement for residential properties in England. If you are currently renting a property under an AST you will need to contact your landlord about bringing the tenancy to an end when your purchase completes. Alternatively, if you are buying a property to rent out you will most probably be entering into one of these with a tenant soon after completion!