Planning Permission

The permission granted by the local planning authority (usually the local council) for any new building or engineering operations or change of use of a building if it meets the public's interest.

Portable

When you transfer your mortgage to a different property without penalty, even if there are redemption charges.

Premium

The amount you pay regularly, monthly or annually, to an insurer for an insurance policy.

Private Sale

Sale of a property without the use of an estate agent.

Product Fee

There may be a fee involved when you apply for a mortgage. This is to reserve the mortgage and to cover administration costs.

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