Glossary of terms
Property Auctions: A Property auction is the process of buying and selling Properties by offering them up for bid, taking bids, and then selling the Property to the highest bidder. In economic theory, a property auction is a method for determining the value of a commodity that has an undetermined or variable price.

Buy to Let: A buy to let property is a property that is being sold as an investment or a means of income. A buy to let property should generally have a high ratio of rental income over mortgage repayments. Some Buy to let companies offer to acquire the property for you and then let the property on your behalf. This is usually a more expensive option than managing the property yourself.

Property investment abroad: Investment property is bought to retrieve a rental income and/or an increase in value above inflation. Property purchased abroad can increase in value rapidly epically in underdeveloped areas. This does require local knowledge however and help from an agency is advised.

Franchise: Buying a Franchise is where an established business gives you authorisation to sell or distribute for them, usually in a given area. There are literally 1000s of Franchises on offer today.

Businesses for Sale: Businesses for sale are usually dealt with by Business Transfer Agencies or commercial estate agents. A Business Transfer Agency is a company that helps people sell their businesses. A vendor would register their business with a Business Transfer Agency who would in return send details to all their clients who have expressed an interest in that field of business. A Business Transfer Agency will charge a fee for their services which is usally a percentage of the sale price.

Premium Bonds: A Premium Bond is a bond issued by the United Kingdom government's National Savings and Investments scheme. The government promises to buy back the bond on request for its original price.The government pays interest on the bond, but instead of the interest being paid into individual accounts, it is paid into a prize fund, from which a monthly lottery distributes tax-free prizes, or premiums, to selected bond-holders whose numbers come up. The machine that generates random numbers for the lottery is called ERNIE, for Electronic Random Number Indicator Equipment.

ISAs: An Individual Savings Account (ISA) is a financial product available in the UK, designed for the purpose of investment and savings with a favourable tax status. ISAs were introduced on 6 April 1999, replacing the earlier Personal Equity Plans (PEPs) and Tax-Exempt Special Savings Accounts (TESSAs), which continued to exist only for money already invested in them and for interplan transfers. ISAs were explicitly designed to appeal to a broader range of the population than these earlier products however, they have been criticised as confusing.

Annuity Pension: An ANNUITY PENSION generally refers to a lump sum being paid to a financial institution, in exchange for a regular income. An ANNUITY PENSION usually provides an income for the rest of your life.

Personal Pensions Plan: A PERSONAL PENSION PLAN is where a regular amount is paid to a pension provider who invests it on your behalf. When you pay into a PERSONAL PENSION PLAN, the government, as an incentive, gives you tax relief on your contribution.