GLOSSARY - P
Pension mortgage |
Pension plans linked with mortgage loans. |
Portable Mortgages |
The facility to shift the mortgage from one property to another when required. |
Principal |
The amount of the loan borrowed and paid excluding the interest. |
Private treaty |
Selling a property or a piece of land to another person without auction. |
Portability |
A portable product means it is transferable to a new property. |
PPP
Insurance |
Payment Protection Plan insurance to cover the mortgage payments in the event of ill health. |