A - Z

Affordable Housing

Housing built with subsidy from the Government, a housing association or other means, either for rent, outright sale or shared ownership. The subsidy enables the cost of rent/purchase to be affordable for households who could not otherwise afford the market rent/sale price.



The person buying the property - also known as the purchaser.


Cancellation Fee

If you have reserved an Cerris Home and decide not to continue with your purchase, you may cancel your reservation but you will lose your Reservation Deposit to offset legal and administrative costs incurred by the seller.



The CML (Council of Mortgage Lenders) is the main trade body which represents UK mortgage lenders. Lenders will not release the mortgage funds until the purchaser's solicitor has received confirmation from the builder that the property has passed a pre-handover inspection by NHBC or another warranty provider.


Completion Date

This is the date when the purchase becomes final and the Purchase Price is paid by the buyer's conveyancer and received by the seller's conveyancer. The keys are released to the buyer who may then move into their Cerris Home.


Contents Insurance

Contents Insurance is insurance which pays for damage to, or loss of, an individual's personal possessions while they are located within your home.



The legal document that confirms the sale/purchase of the Cerris Home. This is prepared in a draft form by the seller's conveyancer and sent to the buyer's conveyancer. Once all queries are answered, it is then approved and the seller and the buyer each sign their own copy.


Deeds (Title Deeds)

These are the legal documents that contain information about the Cerris Home.



Your down payment on your Cerris Home, usually calculated as a percentage of the value of the property being purchased and payable on Exchange of Contracts.


Exchange of Contracts

During the last stages of the legal process, you will Exchange Contracts. This means that you (the buyer) and the seller are both legally committed to the sale.



A freeholder owns the land that the property is built on.



A person that signs a guarantee with a lender and promises to repay a borrower's loan if the borrower can't or won't.


Help to Buy

Help to Buy is the overall umbrella term for subsidised home ownership schemes. It includes the shared ownership scheme.


A lease is a document which details the matters affecting a leasehold property. It will include reference to the length of the lease, rent, service charges, rights of way, water, drainage and access and it will usually incorporate a plan.



A leaseholder buys the right to live in a property for an agreed period of time but does not own the land the property is built on - a ground rent may be payable.



A mortgage is a loan taken out to buy property or land. Most run for 25 years but the term can be shorter or longer. The loan is ‘secured’ against your home until it’s paid off. If you can’t keep up your repayments the lender can repossess your home and sell it, to recover any loan they have made.


Mortgage Offer

A written offer to lend money on a property. The mortgage offer will contain all the terms of the loan and the conditions upon which the money is loaned.


New Build

Where an Cerris Home is being purchased for the first time from the builder or developer.


Off Plan

Where an Cerris Home is being bought at the planning stage and is yet to be built.


Reservation Fee

This is a fee you pay to reserve your Cerris Home. You will get this back when the sale completes as it will be deducted from the monies due on completion.



This is the person selling the property, sometimes also known as the vendor.


Shared Ownership

Enables you to buy a proportion of a property, usually through a Registered Provider and pay a subsidised rent on the portion you do not own. Typically you initially buy between 25% and 75% of the property.


Need To Know:

Be Inspired By
Your Own Space

With a beautiful range of two, three and four-bedroom homes located in the Cheshire greenery and open fields of Congleton and Sandbach, the village life of Nantwich, to Staffordshire towns and beyond, our homes are built around you. 

However you live your life, you'll find space to enjoy affordable living with Cerris Homes. 


*First two years covered by Builder Warranty & NHBC Guarantee or similar. Year 3 to 10 covered by NHBC insurance or similar. 

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