PRC Certificates
PRC Certificates, also known as PRC Repair Certificates or PRC Completion Certificates, are documents issued to confirm that a prefabricated reinforced concrete (PRC) house ...
Payday Loan
A payday loan is a type of short term loan that can be used when someone needs funds quickly. They are designed to bridge ...
Predicted Energy Assessment (PEA)
A Predicted Energy Assessment (PEA) is normally required when selling a property prior to its construction, also known as ‘off-plan’. The PEA is a ...
Prefabs
After World War II, there was a significant demand for housing in the UK and prefabricated homes were a major part of the delivery ...
PRC: Precast Reinforced Concrete
PRC stands for “Precast Reinforced Concrete” It is a type of construction technique used for building houses and other structures. PRC houses were built ...
Principal sum
The principal sum is the amount of money that is initially borrowed or lent, and on which interest is then calculated. In a loan ...
NHBC Guarantee
NHBC (National House-Building Council) is a UK organisation that provides insurance and warranty protection for new homes in the UK. It was established in ...
PAYE
PAYE stands for “Pay As You Earn” and is a system used by employers in the UK to deduct income tax and National Insurance ...
Payment and deduction statement
The purpose of a CIS payment and deduction statement is to provide a record of payments made to subcontractors and the amount of tax ...
Probate
Probate is the legal process that occurs after a person’s death to prove the validity of their will and to administer their estate. The ...
Payment holiday
A mortgage payment holiday is a temporary break from making mortgage payments that is granted to the borrower by the lender. Mortgage payment holidays ...
Partial redemption
A partial redemption is a part-payment made by the borrower to pay off a portion of their mortgage balance before the end of the ...
Overpayment
An overpayment on a mortgage is a payment made by the borrower that is above the required monthly payment amount. Overpayments can be made ...
OFF PLAN
An off-plan property is a property that is being sold before it has been built or completed. Off-plan properties are typically sold by developers ...
PORTABILITY/PORTING
The lender will allow the borrower to transfer (or port) an existing mortgage product to a new property, subject to both borrower and property ...
