Enterprise Zone
An area with economic problems that has been given financial help by the government to encourage the growth of new businesses. The government grants automatic planning permission for such development or class of development subject to conditions and limitations, as may be specified in a scheme. Enterprise Zones are designated by the Secretary of State.

Exchange
The point at which contracts are exchanged between the buyer and seller. This event creates a binding contract on both the buyer and seller and it is not possible to back out once contracts have been exchanged without risking serious financial penalties.

Equity release
A mechanism by which a house-owner can turn the cash value of their house into a stream of income and capital payments, whist retaining the use of the house until their death.