Jargon Buster

Understand property related jargon.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Payment break

An option on flexible mortgages that allows you to stop making mortgage payments for up to 6 months.
Penalties

Costs that may be incurred if the borrower repays the loan too early or switches between lenders.
Peppercorn ground rent

A nominal periodic rent usually paid annually.
Pied a terre

A property kept for temporary secondary or occasional occupation.
Preliminary enquiries

The initial enquiries about a property put forward to a seller which the seller must answer before the exchange of contracts.
Premium

The monthly amount payable for an insurance policy.
Premium lease

Lump sum paid up front as rental for a property.
Principal

The sum of the loan on which interest is calculated.
Public liability insurance

Insurance which covers injury or death to anyone on or around your property.
Purchaser

A person who is buying a property.

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