P

Peppercorn Rent
Nominal ground rent usually paid annually and of trivial amount.

Pied-a-Terre
Property kept for temporary or occasional occupation.

Preliminary Enquiries
Initial set of questions regarding a property that the seller must answer prior to exchange of contracts.

Premium
Amount payable on an insurance policy, usually paid monthly.

Principal
Amount borrowed from a lender on which interest is calculated.

Public Liability Insurance
Insurance to cover the injury or death or damage to property of anyone on or around your property.

Purchaser
Person who is buying a property. Also known as the Buyer.