A large number of people looking into buying a home admit they get confused by all the housing jargon they are exposed to, particularly first-timer buyers.

According to recent figures, 40% of house hunters are left scratching their heads by the complex terminology used in through the whole process.

With this in mind, the National Association of Estate Agents (NAEA) has released a jargon busting list to assist prospective buyers crack the code and get their foot in the door.

'Chain' refers to the sequence of buyers and sellers. Most sellers are also buyers, meaning there can often be a chain of people waiting on each other. This means that deals are dependent on other deals going through. For instance, if a buyer or seller drops out then the chain can collapse and the purchasing of a home can be cancelled or delayed.

'Completion date' is the point when the transaction is complete and ownership of the property passes from the seller to the buyer, while 'conveyancing' is the legal process where all the issues arising from the sale or purchase of a house is taken care of and ownership of a property in transferred. The latter is managed by a solicitor or qualified conveyance.

'Disbursements', meanwhile, are payments made by your solicitor to other people on your behalf. These include stamp duty, land registry charges and search fees.

The point at which both parties are committed to the transaction is known as 'exchange of contracts'. Until the contracts are signed, the buyer and seller can walk away at any time.

'Freehold' means ownership of the land and any property that stands on it, while 'leasehold' means ownership of property for a certain length of time.

A 'building survey' is a report into the physical state of the property, also sometimes referred to as a full structural survey.

Last, but by no means least, 'vendor' is another word used to describe the seller of the residential property.

"It can be easy to forget that language and terms used when speaking with colleagues can be confusing and difficult to understand to buyers," said Mark Hayward, President of the NAEA.

"Many have a limited knowledge of the vocabulary around buying and selling a home and will often find it off putting.

"Agents must remember to take time to explain terminology to those taking their first steps onto the property ladder. First time buyers can often be in a vulnerable position because they will not have had direct experience in buying a home."