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The purchase price of the property plus all related transaction costs, including tax, legal fees and SPV Reserve.Anti-Money Laundering ('AML')
Money laundering is the process of transforming the proceeds of crime into ostensibly legitimate money or other assets. Five Acts of primary legislation govern money laundering and terrorist funding in the UK;
British Pearl has a strict customer due diligence process designed to prevent the site being used for money laundering.Articles of Association
One of the constitutional documents of a company that sets out its management and administrative structure. The articles dictate the internal affairs of the company, such as director and shareholder rights, the issue and transfer of shares, and the organisation of meetings.Asset Class
A group of securities which have similar economic properties and characteristics. Shares, bonds and property are examples of distinct asset classes.Assured Shorthold Tenancy ('AST')
The most common type of residential tenancy, and is also used to describe the agreement documenting the tenancy. They typically run for a fixed term, usually 6 or 12 months, the tenants deposit must be protected in a recognised scheme and the landlord must give the tenant at least 2 months’ notice to leave.