Schedule A

Letting income is taxed under schedule A. Although expenses may be set against income there are special rules that apply which vary from those which apply to most other types of business income which is taxed according to ?Schedule D’. The Inland Revenue has an...

Sealed Bids

If there are two or more interested parties in the purchase of a property then the offer will often be decided via Sealed Bids. This means that the purchase prices offers are made by each party in a sealed manner i.e. provided via sealed envelope. When all bids are...

Searches

Refers to the determining of whether there are any unwanted/adverse effects in relation to a particular property. Should cover things that are already in place and things that are being planned.

Seasoning

Refers to the pay history on a loan. A loan that is ?seasoned? will have at least six months of pay history. Non-seasoned loans are more risky than seasoned loans because they lack a pay history.