Glossary

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There are currently 10 names in this directory beginning with the letter B.
B1 use
B1 Use - Business

B2 use
B2 use - General Industrial

B3-B7 use
B3-B7 use - Special Industrial Groups

B8 use
B8 use - Storage and distribition

Banking Covenant
Banking Covenant - An agreement between a bank and borrower to meet certain financial conditions of a loan.

 

Bankruptcy
Bankruptcy - An insolvency procedure usually initiated by an individual, sole trader or individual of a partnership to seek protection from the court to repay creditor debt.

Bridging Loan
Bridging Loan - Bridging finance is a type of short-term loan for individuals or a company. They are typically taken out for 3-24 months and ‘bridges the gap’ pending full repayment usually through the arrangement of a long-term loan or sale of property.

Brownfield Site
Brownfield Land - Land which has already been used or developed. Government policy usually favours the development of these sites. Environmental reports are generally essential.

Building Notice
Building Notice - An application with intention to carry out building work - usually to a small residential project - without providing full plans to the local authority. Works can start two days after submission. The builders are responsible to ensure the works comply with regulation and completion certificates must be issued by the building control inspector to evidence compliance when required during and at the end of the building project.  

Business Rates
Business Rates - Statutory tax on the occupation of a commercial property.