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Land Registry
Government department responsible for recording ownership of land in England and Wales. Searches will be requested from the Land Registry by conveyancers as part of any property transaction.

Land Registry Fees
Set fee paid to Land Registry to register ownership of a property.

Lease
Possession of a property owned by another party for a specified time period. Also known as Tenancy.

Lease Agreement
Legal document detailing terms whereby the owner of a property grants rights to another party to occupy it for a specified period of time. Also known as Tenancy Agreement.

Leasehold
Ownership and right to occupy a property by way of a lease agreement for a given period of time subject to an annual payment of rent to the owner of the freehold.

Lender
Institution that lends funds in order to assist the borrower with a property purchase.

Lender's Legal Fees
Fees incurred by the lender in arranging a mortgage and that are passed on to the borrower.

Lessee
Someone who holds the lease on a property. Also known as Tenant.

Lessor
Someone who grants a Lease on a property. Also known as Landlord.

Lien
Legal right or claim against a property as security for a debt.

Listed Building
Building that has been registered as being of special interest and has preservation orders on it.

Loan To Value (LTV)
Percentage indicating the ratio of a mortgage loan on a property to its market value.

Local Authority Search
Enquiries made to the local council regarding any future development issues that might affect a property and/or the surrounding area.