Jargon Reference Guide


Payment Break

An option on flexible mortgages that allows the borrower to stop making mortgage payments for up to six months.


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.


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.


The monthly amount payable for an insurance policy.

Premium Lease

The lump sum paid up front as rental payment for a property.


The sum of the loan on which interest is calculated.

Public Liability Insurance

Insurance which covers injury to or death of anyone on or around a property.


The person who is buying a property.