Words beginning with Z explained in Buy to Let Glossary

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A glossary of property and mortgage terms

Zero - rated
A financial product with rate of interest of 0%

Zero balance
Circumstances when all the outstanding balance on one's mortgage, credit and/or store card is paid off by the borrower with not a single penny left to pay.

Zoning
A system of land use planning and regulating by the local authorities where by the land is divided into 'zones' to be used for industrial, residential and other development. The public consultation is usually one of the requirements once the plans to develop a particular piece of land have been drawn. Following the consultation, relevant planning permission is sought. UK has 421 Local Planning Authorities (LPA) dealing with the above.

Z-score
Also known as Altman Z score. A formula originated by Dr Edward Altman to predict how likely the company is to fail financially and to become bankrupt. On the basis of the financial date collated, a score of 3.0 or more means that the company is safe; a score more than 2.7 and less than 2.99 indicates that urgent measures need to be taken to avoid failure; a score between 1.8 and 2.7 means that the company is likely to become bankrupt within the period of two years since the date financial details were collected; and finally, a score of 1.8 and less indicates that the company is most likely to become insolvent.

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