Jargon Buster

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Term Definition
Rental Yields
A way of determining the Return On Investment (ROI) of an investment, expressed as either the Gross Yield or Net Yield.
Repayment Mortgage
The capital and interest elements of the loan are paid off with each monthly instalment, so that the balance reduces over time. Also known as a capital and interest mortgage.
Repo Rate
The rate set each month by the MPC as the benchmark for other interest rates, including personal loans and mortgages
Legal process by which a mortgaged property may be sold to pay off a mortgage loan that is in default.
Residential Property Tribunal Service
An independent body which aims to provide a fair and accessible tribunal service to help landlords, tenants and leaseholders settle disputes about rents and about leasehold property.

It's remit covers England and comprises five regional Rent Assessment Panels, each covering a different geographical part of the country - London; Southern England; Northern England; the Midlands; and Eastern England.

Rent Assessment Panels do not have the power to deal with all types of dispute about rents and leasehold matters.
Retail Price Index
The Retail Price Index is a measure of inflation published monthly by the Office for National Statistics.

It measures the change in the cost of a basket of retail goods and services.
An amount of money held back from the initial loan and not paid by the lender until specific repairs or improvements have been carried out by the purchaser.
Return On Capital Employed
Financial return from initial investment calculated as a gross or net figure. Annual Rent minus Interest divided by Deposit and Acquisition Costs
Return On Investment
How much you get out of an investment in comparison to how much you have put into it. Normally on a yearly basis and expressed as a percentage.
A special property purchase. An agreement with the vendor that they can still continue to live there for a specified time, normally until they die or some other significant agreed event happens.
RICS Valuation
The price a RICS surveyor values a property for on the open market.

Usually calculated by comparative valuation with surrounding properties of a similar specification + visit to a property.
Right Of Way
A legal right to use any particular part of a property so as to gain access to their own property.
Right To Buy
When a tenant living in a council-owned (or other social housing owned) property, can purchase the property at a discount.

Generally the size of the discount depends on the length of their tenancy. These days the discount is often capped.
Royal Institution Of Chartered Surveyors
A professional body of the property sector. 110,000 members globally and represents, regulates and promotes the work of property professionals throughout 120 countries.