Capital
In classical economics one of three factors of production. In general, an individual’s financial interest in an asset after the value of charges such as mortgages are deducted.
Capped mortgage
A mortgage in which the interest rate will not rise above a pre-set rate, known as the cap. However, if the lender’s standard variable falls below the capped rate the interest rate will fall in line with it. If the lender’s variable rate rises above the cap.
Carbonation
A natural process affecting the outer layer of concrete. Metal reinforcement within that layer is liable to early corrosion, with consequent fracturing of the concrete in some cases.
Casement window
A window composed of hinged, pivoted or fixed sashes.
Cavity wall
Traditional modern method of building external walls of houses comprising two leaves of brick or block work, usually separated by a gap (“cavity”) of about 50mm (2 inches).
Cavity wall insulation
The filling of wall cavities by one of various forms of insulation material: Beads: Polystyrene beads pumped into the cavities. Will easily fall out if the wall is broken open for any reason. Foam: Urea formaldehyde foam, mixed on site, and then pumped into the cavities.
Cavity wall-tie
A twisted piece of metal or similar material bedded into the inner and outer leaves of cavity walls intended to strengthen the wall. Failure by corrosion can result in the wall becoming unstable – specialist replacement ties are then required.
CCJ
County Court Judgement. A court order against a debtor. Unless the full amount of the judgment is paid within one month, a CCJ will be recorded on the Register of County Court Judgments for six years.
Cesspool
A simple method of foul drain comprising a holding tank which needs frequent emptying. Not to be confused with “septic tank”.
Chain
A simple method of foul drain comprising a holding tank which needs frequent emptying. Not to be confused with “septic tank”.
Charge
A debt secured against property (e.g. a mortgage) to ensure repayment.
Charges register
The register that records all charges (judgments, mortgages etc.) lodged against property or land.
Chipboard
Often referred to as “particle board”. Chips of wood compressed and glued into sheet form. Cheap method of decking to flat roofs, floors and (with Formica or melamine surface) furniture, especially kitchen units.
Cleaning eye
Sometimes known as an ‘access eye’ or ‘rodding eye’. An opening in a drain or ventilation pipe, covered by a plate, the removal of which allows the drain to be ‘rodded’ to clear blockages.
CML
Council of Mortgage Lenders. The trade association for the residential mortgage lending industry.
Cob
Walling of naturally dried earth or clay, usually mixed with small stones and straw and compressed without reinforcement into blocks. Sometimes it is rammed into formwork. This cheap method of walling has in the past been practiced mainly in East Anglia.
Collar
Horizontal timber member designed to restrain opposing roof slopes. Absence, removal or weakening can lead to roof spread.
Collar beam
A horizontal tie beam of a roof, which is joined to opposing rafters at a level above that of the wall plates.
Combination boiler
Modern form of gas boiler which activates on demand usually within a pressurised system. With this form of boiler there is no need for water storage tanks, hot water cylinders etc.
Combined sewers
Sewers which carry both sewage and surface water.
Common parts
This phrase usually refers to the areas of a property available for use by any of the occupiers (for example, communal hallways or grounds).
Commonhold land
A form of freehold land introduced by the Commonhold and Leasehold Reform Act 2002. All owners of commonhold units, which comprise the commonhold land, are bound by a commonhold community statement that may include positive and negative covenants.
Completion
The finalising of a sale of property. All monies are transferred and the purchaser is allowed access to the property.
Concrete
A mixture of coarse, medium and fine aggregates with cement, and sometimes various admixtures with water.
Condensation
The changing of water vapour to liquid water, typically in buildings where moisture-laden air is cooled below its dew point by a cold surface.
Conflict of interest
Where an agent acts for clients who have competing interests, or where an agent’s personal interests conflict with those of their client.
Conservation area
An area specifically designated to preserve or enhance an area of special architectural or historic interest via planning controls.
Contents insurance
An insurance policy which pays out funds to the policy holder for repairs to, or for the replacement of, the contents of the named property should any incidents occur such as theft, fire, or accidental damage.
Conveyancer
A legal professional who specialises in the legal aspects of buying and selling property.
Coping/Coping Stone
Usually stone or concrete, laid on top of a wall as a decorative finish and designed to stop rainwater soaking into the wall.
Corbel
Projection of stone, brick, timber or metal decay already present.
Cornice
A large moulding at the junction between an inside wall and a ceiling. Can also include a moulding at the top of an outside wall designed to project and throw raindrops clear of the wall.
Covenant
A legally binding agreement. Often used to require the owner of a property to do, or not to do, something in relation to the property.
Coving
Curved junction between wall and ceiling
Credit score
An expression of the creditworthiness of a person. Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt.
Creep
Gradual deformation of an object under load.
Curtilage
The land within which the building is set and which belongs to it.