Underlease
There may be more than one leasehold interest on a property. The freehold is the ultimate interest followed by the head lease then one or more underleases.
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Unpaid ground rent charge
If you are a leaseholder and the freeholder notifies the lender that you have not paid your ground rent or service charge the lender may penalise you.
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Vacant possession
The previous occupants must vacate the property before you move in this includes any tenants.
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Valuation
This is the estimated price that your property is worth.
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Vendor
The person who is selling the property.
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