Gazumping
A term referring to the circumstances where the seller, having accepted the offer from the first purchaser, decides to accept a higher offer from the second purchaser just before the exchange of contracts is to take place.

Gazundering
A term referring to the circumstances where the purchaser, just before the exchange of contracts is to take place, makes a lower offer to the seller. Seller is often put under pressure to continue with the transaction and will have no choice but to sell his property at a lower price.

General Conditions
Term referring to the most standard conditions included on contract, credit and/or mortgage agreement, etc.

Geographical Restrictions
Circumstances where some, usually smaller lenders, limit their financial products, such as mortgages, to the properties that are situated in their local area only. Likewise, mortgage loans may not also be available for the properties that are located in what is considered to be high risk areas.

Gross
A term referring to the total amount of money coming in on a regular basis (weekly, fortnightly or monthly) prior to any deductions, such as National Insurance (NI) contributions, income tax, pensions, etc.

Gross Annual Income
Total amount of one's yearly income before any lawful deductions, such as income tax, NI contributions, pensions, etc are made.

Gross Income
Also see Gross above.
Total amount of income without taking into account any of the lawful deductions.

Ground rent
A term pertaining to Leasehold properties only and is often referred to as a chief rent or rentcharge. It is an annual payment, as outlined in the terms of lease, to the Freeholder by the Leaseholder originally intended to provide the landowner with some income .

Growth
Maximising one's investment capital that does not require a minimum level of income.

Guaranteed Earned Income
An income in addition to your basic salary that you are guaranteed to receive even if it does not form part of your basic contractual pay.

Guarantor
A person who agrees to guarantee that a mortgage loan released to the borrower will be repaid. In these circumstances, the guarantor becomes liable for the repayment of the borrower's loan, should the borrower fails to keep up his payments. Guarantors are often required when borrower does not fully meet mortgage criteria, but is not available on all mortgages.

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