With the housing market still booming, you might have been delving into the property sector recently in a bid to sell your home or find a reasonably priced one to buy. Have you ever found yourself wondering what all of the abbreviated words mean? Some might be obvious to you but if they aren’t here’s a quick A-Z rundown of the most common abbreviations used by estate agents.
AT Assured Short Hold Tenancy
AST Assured Tenancy (Agreement)
APR Annual Percentage Rate
AIP Application in Principle
BMV Below Market Value
BTL Buy to Let
BTS Buy to Sell
BOE Bank of England
CML Council Mortgage Lenders
CRM Capital Repayment Mortgage
CPO Compulsory Purchase Order
COCR Cash on Cash Return
DID Decision in Principle
DTV Direct to Vendor
EA Estate Agent
EDC Exchange with a Delayed Completion
ERC Early Repayment Charges
EPC Energy Performance Certificate
FMV Fair Market Value
FTB First Time Buyer
FR Fixed Rate
FH Freehold
GDV Gross Development Value
GP Gross Profit
GR/NR Gross Return/Net Return
HMO House of Multiple Occupancy
HPI House Price Index
HHSRS Housing Health and Safety Rating System
IO Interest Only (Mortgage)
IRR Internal Rate Retention / Internal Rate Of Return
IHT Inheritance Tax
JV Joint Venture
JVP Joint Venture Partner
LHA Local Housing Allowance
LH Leasehold
LL Landlord
LTB/L2B Lease to Buy
LO Lease Option
MV Market Value
NLA National Landlords Association
NALS National Association of Letting Agents
NAEA National Association of Estate Agents
OIEO Offers In Excess Of
OIRO Offers In The Region Of
OMV Open Market Value
OO Owner Occupier
OTO Open to Offers
POA Price on Application
PP Planning Permission
PP Purchase Price
RPI Retail Price Index
ROR Rate of Return
ROI Return on Investment
ROE Return on Equity
ROCE Return on Capital Employed
RICS Royal Institute of Chartered Surveyors
SDLT Stamp Duty Land Tax
SSTC Sold Subject To Contract
SV Surveyor Valuation
SVR Standard Variable Rate (Mortgage)
SARB/SRB Sale and Rent Back
TB Tenant Buyer
VP Vacant Possession
We hope this blog will help you navigate estate agent abbreviations with ease in your future home sales and purchases! If you need more specialised help and advice, our team is always on hand to discuss your needs in more detail, you are welcome to contact us here.