Glossary

Gazumping

This is when someone comes along with a higher or better offer than one that has been verbally agreed and the seller takes it.

Gazundering

This is when an offer has been agreed but then the buyer suddenly drops the price at the last minute (before exchange).

Grant of Probate

This is the legal right to sell the property of someone who is deceased.

Grant of Representation

This is a document which is issued by the court which permits someone to sell or deal with someone's estate if there is no will detailing this.

Green Belt

A designation for land around certain cities and large built-up areas, which aims to keep this land permanently open or largely undeveloped. The purpose of the green belt is: ? To check the unrestricted sprawl of built-up areas. ? To safeguard the surrounding countryside from further encroachment. ? To prevent neighbouring towns from merging into one another. ? To preserve the special character of historic towns. ? To assist in urban regeneration.

Green Corridor

A network of undisturbed land areas connected by designated pathways / cycleways for the movement of wildlife and humans.

Green Space

Green Space is defined as being any vegetated and or structure, water or geological feature. It may be public or privately owned, and may or may not have public access. Greenspace includes: Multi-purpose urban parks and gardens; nature parks; outdoor sporting facilities; children's play area; amenity greenspace and country parks.

Green Wedges

Comprise of open areas around and between parts of settlements, which maintain the distinction between the countryside and built up areas. These can also provide recreational opportunities.

Ground Rent

This is a regular payment (often annual) of rent by a leaseholder made to the landlord or person who owns the freehold.

Guarantor

This is a third party (often an individual) who promises to pay the mortgage repayments on behalf of the buyer in the event of the buyer becoming unable to pay. It can often be required for First Time Buyers.