Property investment glossary

Basic State Pension


The basic State Pension (maximum £113.10 per week) is a regular payment from the UK government, which you are entitled to if you have paid or been credited with National Insurance contributions, and are a man born after the 6th of April 1951 or a woman born after 6th of April 1953. The State Pension fluctuates due to both the average percentage growth of wages in the UK and the percentage growth in prices as measured by the Consumer Prices Index (CPI).

Beneficiary


The recipient of pension benefits, nominated by the original pension-holder in the event of death.

Benefit Crystallisation Event


An event that results in the payment of an authorised benefit from an individual’s pension scheme. The most popular BCEs in retirement are:

  • Taking pensions commencement lump sum (PCLS)
  • Crystallising funds to provide income via drawdown, scheme pension or annuity respectively
  • Lump sum payable on death

Bricks and Mortar


A synonym for property.

Buy-to-Let


Buy-to-Let is a phrase used to describe the act of purchasing a property specifically to then let it out.

Buy-to-let Mortgage


A Buy-to-Let Mortgage is a mortgage loan specifically designed to purchase a property with the ultimate aim of letting it.

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