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Glossary Of Terms
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Decision in principle (DiP)
A term used to refer to the likely outcome of a mortgage application. It is not a formal offer but does include a credit check and is therefore useful for highlighting any possible credit problems you could have but are unaware of.
Department of Trade and Industry (DTI)
Government department concerned with business and enterprise.
Deposit
A partial payment paid in full on a property you wish to purchase outright. When buying off-plan, two deposits are sometimes required. The first deposit is required upon exchange of contracts, normally between five and ten per cent of the full purchase price.
Dual zone development
A development for both residential and short-term rental purposes.