Property Investment Terminology, Abbreviations and Acronyms Explained
Property like any industry comes with its own jargon, terminology, abbreviations and acronyms. For the new, would-be investor, this can be daunting and even seasoned operators can sometimes struggle. Today we present a complete list of abbreviations and acronyms commonly used in the UK property sector.
A
| AIP | Application in Principle |
| APR | Annual Percentage Rate |
| AS | Assisted Sale |
| AST | Assured Short Hold Tenancy |
| ARLA | Association of Residential Letting Agents |
| AT | Assured Tenancy (Agreement) |
B
| BMV | Below Market Value |
| BMRV | Below Mortgage Redemption Value |
| BOE | Bank Of England |
| BRMV | Broad Rental Market Area |
| BTL | Buy-to-Let |
| BTS | Buy-to-Sell |
C
| CH | Central Heating |
| CML | Council Mortgage Lenders |
| COCR | Cash On Cash Return |
| CPO | Compulsory Purchase Order |
| CRM | Capital Repayment Mortgage |
| CT | Council Tax |
D
| DD | Due Diligence |
| DG | Double Glazing |
| DIP | Decision in Principle |
| DLA | Disability Living Allowance |
| DPC | Damp Proof Course |
| DPM | Damp Proof Membrane |
| DTV | Direct To Vendor |
E
| EA | Estate Agent |
| EDC | Exchange with a Delayed Completion |
| EPC | Energy Performance Certificate |
| ERC | Early Repayment Charges |
F
| FENSA | Fenestration Self Assessment Scheme |
| FH | Freehold |
| FLEEA | Fire, Lightning, Earthquake, Explosion, Aircraft (Insurance) |
| FMV | Fair Market Value |
| FR | Fixed Rate |
| FTB | First Time Buyer |
| FURN | Furnished |
G
| GCH | Gas Central Heating |
| GDN | Garden |
| GDV | Gross Development Value |
| GF | Ground Floor |
| GFCH | Gas Fired Central Heating |
| GP | Gross Profit |
| GR / NR | Gross Return / Net Return |
H
| HA | Housing Authority |
| HB | Housing Benefit |
| HHSRS | Housing Health and Safety Rating System |
| HMO | House of Multiple Occupation |
| HPI | House Price Index |
I
| IFA | Independent Financial Advisor |
| IHT | Inheritance Tax |
| IO | Interest-only: A mortgage where capital debt is held off until the end of the term. Interest payments to service the debt are made at regular periods. |
| IRR | Internal Rate Retention / Internal Rate Of Return |
J
| JV | Joint Venture |
| JVP | Joint Venture Partner |
L
| LH | Leasehold |
| LHA | Local Housing Allowance |
| LIBOR | London Interbank Offered Rate |
| LL | Landlord |
| LO | Lease Option |
| LTB/L2B | Lease to Buy |
| LTL/L2L | Lease to Let (Same as R2R) |
M
| MV | Market Value |
N
| NAEA | National Association of Estate Agents |
| NALS | National Association of Letting Agents |
| NHBC | National House Building Council Scheme |
| NLA | National Landlords Association |
| NP | Net Profit |
O
| OCH | Oil Central Heating |
| OIEO | Offers In Excess Of |
| OIRO | Offers In The Region Of |
| OMV | Open Market Value |
| OO | Owner Occupier |
| OPM | Other People’s Money: Using other people’s money to purchase property |
| OTO | Open to Offers |
P
| PA | Per Annum |
| PCM | Per Calendar Month |
| POA | Price on Application |
| PP | Planning Permission |
| PP | Purchase Price |
| PW | Per Week |
R
| RICS | Royal Institute of Chartered Surveyors |
| ROCE | Return on Capital Employed |
| ROE | Return On Equity |
| ROI | Return On Investment |
| ROR | Rate of Return |
| RPI | Retail Price Index |
S
| SARB/SRB | Sale and Rent Back |
| SDLT | Stamp Duty Land Tax |
| SO | Standing Order |
| SSTC | Sold Subject To Contract |
| SV | Surveyor Valuation |
| SVR | Standard Variable Rate - Mortgage |
T
| TB | Tenant Buyer |
U
| UF | Unfurnished |
V
| VP | Vacant Possession |