G

Gas Safety Regulations 1998

Regulations that require that any gas appliance in a property to be inspected by a gas engineer, who is certified by the Gas Safe Register, before tenants move into a property and then performed annually thereafter.

Gazumping

This is when a seller accepts a higher offer from a third party on a property that they have agreed to sell to someone else prior to exchange of contracts.

Gazundering

When a buyer reduces his agreed offer prior to exchange of contracts.

Ground rent

The annual charge levied by the freeholder to the leaseholder.

Guarantor for a Buyer

The lender may sometimes require a borrower to appoint a guarantor. This is someone who promises to pay the borrowers debt if the borrower defaults.

Guarantor for a Tenant

The Lanlord may sometimes require a tenant to appoint a guarantor. This is someone who promises to pay the rent if the tenant defaults.

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