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Deposit protection scheme
View ‘Tenancy deposit protection’
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Discounted rate mortgage
A type of mortgage where the lender has agreed to a fixed discount off the normal variable rate of their mortgage for a guaranteed set period of time. PLEASE NOTE: early redemption is likely to cause penalties.
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Discretionary grounds for possession
These grounds may be cited during possession proceedings and can be used at the Court’s discretion to determine whether or not to grant possession. There are eight mandatory grounds for possession to take note of where:

The landlord has offered suitable alternative accommodation on the same tenancy basis
There are rent arrears but they are not more than eight weeks overdue (or two months if the rent is paid monthly, or one quarter if paid quarterly)
The tenant persistently continues to fall into rent arrears
The tenant has breached the terms of their tenancy agreement
The tenant has neglected/damaged the property
The tenant has been reported for being a nuisance to neighbours
Furniture supplied by the landlord under the tenancy agreement has been damaged
The accommodation is linked to employment which has ended
The tenant has knowingly/recklessly made false statements on which the landlord has relied in granting a tenancy

Domestic Energy Assessors (DEAs)
Assessor authorised to provide Energy Performance Certificates.
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Easement
Represents the right a property owner has over an adjoining property, such as right of way.
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Energy Performance Certificate (EPC)
Assessed by a Domestic Energy Assessor, an EPC assesses a properties energy usage as well as provides advice on how it can be lowered. These certificates judge a properties energy efficiency in the same way fridges and washing machines are, giving them a rating between A and G.

PLEASE NOTE:

All properties offered for sale must have an EPC that is no more than 12 months old
From October 2008 all rental properties must have a certificate that is no more than 10 years old

Exchange of contracts
Is the point during the conveyancing process where the agreement between a buyer and seller for ‘transfer of title’ becomes legally binding, and could trigger penalties during circumstances of non-completion.
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Eviction
All evictions to remove a tenant from property must be done by court order in order to make it legal. Under the Protection from Eviction Act 1977 tenants are protected from acts of harassment, threats or actual physical violence, or from the withdrawal of services i.e. disconnecting electrical supply; should these methods be used to force them to leave a property.
Also view ‘Grounds for possession’
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Fair rent
Rent determined by the Rent Service is applicable only to regulated tenancies and is set according to local market conditions, except where the landlord has made substantial improvements to the property, by a formula based on the rate of inflation.
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Fixed interest rate mortgage
A type of mortgage whereby its interest rate is fixed for a set period of time, no matter whether the base rate (repo rate) goes up or down.
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Fly to let
Represents the purchase of an overseas property with the intention of letting this property out continually or for a certain part of the year i.e. during the summer months.
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Freehold
Where a landlord has got indefinite ownership of a property as opposed to a leasehold tenure where the property belongs to them, but only for a fixed period of time.
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Fixtures
Includes all articles attached to the property itself or that are deemed to be a part of it, including radiators, light fittings etc
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Flexible mortgages
A type of mortgage that allows for the possibility of part redemptions or repayment holidays without the risk of penalties.
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Financial Services Authority (FSA)
The Financial Services Authority has the statutory responsibility of regulating the financial services sector. This includes the sale of private homebuyer mortgages, however does not cover business or buy to let mortgages.
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Landlord Basics

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