The Most Confusing Property Jargon for UK Homebuyers Revealed

Buying or renting a property can be complicated for first-timers, especially with property jargon confusing even the most seasoned buyers, with almost two-thirds (64%) of Brits reporting their understanding of mortgage terminology is ‘not good’. 

With that in mind, the landlord insurance experts at Alan Boswell have delved into the most confusing property terms to reveal the property lingo that confuses Brits the most.

Study highlights:

• Leasehold tops the list of the most confusing property terms, with 160.2K searches per year in the UK.
• In second place, Freehold generates 114K searches on average per year.
• All 39 abbreviations in the study generated 735K Google searches on average per year. 

The property terms confusing Brits the most, according to Google

Full dataset available here 

The landlord insurance experts at Alan Boswell can reveal that the most confusing property term for Brits is leasehold, which generates a whopping 160.2K average searches per year in the UK - equaling 17.25% of all housing transactions in 2024 (928,350). 

Leasehold properties mean that you own a property for a fixed amount of time, typically in the UK, this is 99, 125, or 999 years, but leaseholds can be any length. With a leasehold property, you own the property but not the land it’s built on; the land is owned by the freeholder. Leaseholds are very common on flats, but leasehold houses exist too. You will often need to pay ground rent and other service charges, but shared spaces, including gardens, are the responsibility of the landlord, so if any damage occurs, the landlord will typically handle it.

Following on in second place is freehold with 114K searches on average per year. With freehold properties, you own both the property and the land it’s built on. This means you won't pay ground rent or service charges, but you will be liable for the land your property is built on, so if your fence is damaged during a particularly bad British winter, you will need to fund and sort the repairs.

In third place, mortgage in principle garners 64.3K yearly UK average searches. A mortgage in principle, also known as an agreement in principle or decision in principle, is a statement given by a mortgage lender that uses your finances and current interest rates to determine how much they will lend you. It is not a contract and will involve a soft credit check, causing no impact on your credit score. However, it is not a guaranteed mortgage agreement; after the agreement in principle is given, the buyer will still need to make a formal application.

Heath Alexander-Bew, on behalf of the landlord insurance experts at Alan Boswell, provides insight on the importance of understanding property terms when purchasing:

“Many first-time buyers or renters often struggle to understand key property terms involved during the buying and letting process. This is completely understandable, but it means that key clauses and terms of mortgage agreements may be ignored or misinterpreted, which can have significant financial implications or cause delays in the purchase or rental agreement. 

Being well informed of property terms can ensure homeowners, buyers, or renters are better equipped to make informed and strategic decisions and avoid common pitfalls”.