Jargon Buster

At a loss to understand arrears, affidavits or air bricks? Bamboozled by balloon payments and back-to-back escrow? Confused by conveyancing, cash-flow and closing costs?

If so, our Jargon Buster will be just what you need.It's a glossary of terms packed full of property phrases, estate agent slang, financial words and other terms you may come across in your real estate or personal finance activities.

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Jargon Buster: G

Our glossary results: 20 matches!

Gable

The triangular upper portion of a wall at the end of a pitched roof. It typically has straight sides, but there are many variations.

Gargoyle

A grotesque human or animal figurine that projects from a roof or the parapet of a wall or tower. They can often be found on old churches and cathedrals.

Gazumping

Gazumping is when a seller accepts an offer from one interested party, only to accept a higher offer later on from someone else. It can cause financial and mental anguish and is a practice that most buyers would like to see outlawed.

Gazundering

When a buyer forces a seller into accepting a lower offer for their property just before contracts are about to be exchanged by using the threat of pulling out of the purchase completely unless the seller accepts the lower price.

Gearing

The percentage that a company's borrowings represent against shareholders funds (less intangibles) at the end of the last and preceding financial periods.

Gilt-edged securities

Bonds or loan stocks, issued by the UK government, usually paying a fixed rate of interest and regarded, due to the Government backing, as the safest form of capital retention. Low risk but also low reward.

Good-faith estimate

An estimate from an institutional lender that shows the costs a borrower will incur, including loan-processing charges and inspection fees.

Government-insured mortgage

Loans in which the government promises to make good on the insured portion, should the borrow default on the loan. Generally, government loans do not require large down payments. They do, however, have strict eligibility requirements.

Grace period

A specified amount of time to make a loan payment after its due date without penalty.

Greenbelt

An area of land surrounding a city, protected by the government, on which new developments cannot be built.

Gross

Before deduction of tax.

Gross income

Your total income before tax and expenditures.

Ground heave

Usually upward movement in the foundations of a house caused by the absorbtion of moisture into sub-soil (usually clay).

Ground rent

This applies only to leasehold properties and is a sum paid annually to the freeholder by the leaseholder.

Growth companies

Companies expected to have continual growth, year on year, in their earnings per share.

Guarantee mortgage

A loan guaranteed by a third party, such as a government institution.

Guaranteed death benefit

Policies where the company will pay out a certain amount when you die.

Guarantor

The guarantor is responsible for payments if you default. If a lender is concerned about your ability to repay your loan, they may require you to find a guarantor for the loan.

Guide price

The guide price is nothing more than an estimate of the eventual sale price at an auction.

Gully

A small opening under a drainpipe or wastepipe through which the water passes. Usually covered with a grate of some kind to prevent foreign object causing blockage.
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