Glossary of Terms
We have gathered together on this page, a collection of the terms most often used in the Mortgage, Financial and Property Services Industries.
If you are searching for the meaning of a term. Please click on its initial letter below. A list of terms commencing with that letter will be presented to you. Hopefully, you will find the term you require.
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Subsidence
Sinking of the ground. Some houses are built on clay soils, and either the water table drops due to a long, dry spell or water is sucked out of the soil by trees and bushes. As the clay contracts it pulls the foundations, triggering deflection which may cause structural damage to buildings. Other causes may be building above mine shafts, which collapse or water leaks into the soil from, for example, a broken drainpipe and washes soil away from the foundations. This happens to soils with a high sand or gravel content usually, or sometimes in chalk.
See Also
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