Seafarer’s Earnings Deduction
The Seafarer’s Earnings Deduction (SED) is a unique tax rule applicable to UK residents who work on ships outside of the UK. It allows ...
Senior debt provider
A senior debt provider, also known as a senior lender or primary lender, is a lender that provides a loan or financing to a ...
Surveyor
A surveyor is a professional who is trained to assess the value, condition, and suitability of a property. RICS Surveyors are typically hired by ...
Shared ownership
Shared ownership is a type of home ownership in the UK that allows the buyer to purchase a share of a property and pay ...
SELF-CERT MORTGAGES
Self-cert mortgages, or self certification mortgages, were a type of loan that did not require any proof of a borrower’s income. Loans were capped ...
SECOND CHARGE
A second charge mortgage, also known as a ’secured loan’ or ‘second mortgage’ allows you to borrow money, whilst leaving your existing mortgage in ...
SIC CODES
SIC is short for Standard industrial classification of economic activities (SIC) The SIC code is part of the registration with Companies House and provides ...
SECTION 24
In the 2015 Budget, the UK Government announced changes to the rules for mortgage interest tax relief for property investors. Landlords that owned property ...
SURVEY
A property inspection and report conducted by a qualified surveyor to identify issues or faults with the property that may affect its safety or ...
SUBJECT TO CONTRACT
A phase of a property sale after an offer has been made and accepted but before contracts have been signed and exchanged. The term ...
STANDARD VARIABLE RATE (SVR)
The default mortgage interest rate a lender will charge after the initial mortgage deal period ends.
STAMP DUTY LAND TAX (SDLT)
Stamp Duty is a government property tax which is payable when buying a UK property over a certain value. Read more on Stamp Duty ...
SPECIAL PURPOSE VEHICLE (SPV)
Often used as a vehicle to purchase investment property, a Special Purpose Vehicle is a non-trading limited company that exists with a sole purpose. ...
SOLE AGENT INSTRUCTION
The term “sole agent instruction” refers to a situation in which a property owner has granted exclusive rights to a single property agent or ...
SHARE OF FREEHOLD
A form of property ownership (see also ‘Freehold’ and ‘Leasehold’) where several individuals own a portion of the property through a limited company. The ...
