V

Valuation

A basic survey of a property to estimate its value for letting purposes.

Value

The price of a property under normal conditions, ie when the buyer is not forced to buy and the seller not forced to sell.

Variable base rate

The basic rate of interest charged on a mortgage. This may change in reaction to market conditions, so monthly payments can go up or down.

Vendor

The person selling a property.

Vodcasting (‘Video Podcasting’ or ‘Video on demand’)

A way to download video files over the internet before watching them on a computer or video-enabled MP3 player.

Void

An empty area or space.

Void period

Period of time where the property is empty/unoccupied by the tenant.

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