Property investment glossary

Particulars of Sale

An addendum to the contract of sale describing the property and the terms of the leasehold/freehold

Pensionable Service

The period of service for which an employee is credited as being an active member of their company pension scheme. Pension benefits are usually calculated on each individual’s pensionable service and highest average salary.

Pension Protection Fund (PFF)

PPF, set up by the Government in 2005, protects members of a Defined Benefit pension by paying compensation to eligible members of workplace pension schemes in the event of company insolvency.

Personal Allowance

In the UK, your personal allowance is the threshold above which income tax is levied on your income. If you were born after the 6th of April 1948 and your income is less than £100,000 your personal allowance is typically £10,000.

Phased Drawdown

A retirement option for those over 55 who want access to their pension benefits but do not require the full amount of tax-free cash (25%) of their pension funds.

Private Rented Sector (PRS)

A property sector made up of privately rented houses.

Professional Indemnity Insurance

A policy that pays out if you lose money because your legal firm is negligent or makes a mistake

Property Portfolio

Your property portfolio includes all the investment properties that belong to you or your company.

Purpose-Built Student Accommodation (PBSA)

A popular style of accommodation purposefully built for housing students.

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