C

Capital
Amount borrowed on which interest is calculated.

Chain
Occurs where successive buyers and sellers are linked together and reliant upon one another to complete the transaction.

Charge
Security in the property relied upon by lenders when granting a mortgage.

Chartered Surveyor
Suitably qualified person employed to carry out a Building Survey and report on the condition of a property.

Collateral
Property pledged as a guarantee for the repayment of a mortgage.

Commission
Fee payable to an estate agent, usually a percentage of the property price, for providing certain services in relation to the transaction.

Completion
Point at which legal transfer of property ownership passes from one party to another.

Conditions of Sale
Terms defined in the contract and which determine the rights and duties of the buyer and seller.

Contents Insurance
Optional insurance policy designed to cover any loss or damage to possessions within the property.

Contract
Document outlining the terms agreed between the buyer and the seller and binding both parties to complete the sale/purchase transaction. Also known as Agreement.

Contract Race
Occurs when two or more parties attempt to purchase the same property and the Vendor will sell to the first party to exchange contracts.

Conveyancer
Suitably qualified person, such as a solicitor or licensed conveyancer, who handles the legal and administrative process of transferring ownership of a property from one person to another.

Conveyancing
Legal work involved in transferring the ownership of a property from one person to another.

Covenant
Legal requirement incorporated in the Title requiring the owner to do, or not to do, something in relation to the property.