'Per Annum', which means 'each year'.
Part and part mortgage
This is an option that lets you repay part interest-only and part repayment each month.
You’ll need to have a plan in place to repay the outstanding amount at the end of your mortgage term.
For mortgages reserved on or before 3rd March 2010 you can apply for a payment holiday of between three and twelve months if:
You’ve had your mortgage for more than one year, and
Your mortgage is less than 80% of the value of your home at the end of your payment holiday (conditions apply).
If you want to find out more information or apply for a payment holiday please call us on 08457 30 20 10.
Pension Commencement Lump Sum
Most pension schemes include the option to take a portion, usually 25%, as a lump sum without any deduction of tax (subject to certain limits).
To be considered a Permanent Resident of the UK, you must have Indefinite leave to remain in the UK and you should consider the UK as your home.
A personal loan is a convenient way of borrowing money for almost any purpose, and fixed monthly repayments mean it's easy to budget your finances without having to worry about changes to interest rates.
Personal Identification Number (PIN)
A code of four numbers that you type in when you use a debit or credit card in a shop or restaurant, or when shopping online. (You must make sure you remember it, but don’t share it with anyone else.).
Personal Possessions Outside Home
Cover for accidental loss or damage to items that you usually take out of your home. Included as standard with our Home Insurance cover and as an optional extra with our Home Insurance Essentials cover.
Clothes and personal Items, Camera & Video Equipment, Portable musical instruments, Personal Laptop computers, Camping equipment (but not whilst in use)
Sports equipment (but not whilst in use), Pushchairs & wheelchairs, Children's electric toys, Telescopes & binoculars and Money.
The cover is for anywhere within Europe and for up to 60 days elsewhere in the world. If you have any of these items that are worth more than £2,000 they will need to be listed on the policy.
Most of the mortgage products available through Nationwide are "portable" which means that they may be transferred from one property to another when you sell one property and buy another (terms and conditions apply).
A fee charged on some mortgages to secure a particular mortgage deal. For mortgages reserved on or before 3rd March 2010, this was known as a reservation fee.
Professionally Maintained Alarm
This is an alarm installed by a NSI (incorporating NACOSS & ISI) or SSAIB approved company, and is annually maintained by that company.
NSI stands for "National Security Inspectorate" and SSAIB stands for "Security Systems and Alarms Inspection Board". Both these organisations are independent and provide inspection certification services across the security industry.
When you apply for a mortgage we may ask you to pay a valuation fee to cover the cost of valuing your property. The valuation fee is payable prior to valuation and is non-refundable if the valuation is carried out. The valuation is very basic and is carried out for our benefit. We strongly recommend that you have a more thorough survey undertaken, such as a HomeBuyer Report.
This will tell you about the quality and condition of the house you want to buy. There is an additional fee for this service, which can be arranged through Nationwide.
Prudential Regulation Authority (PRA)
The PRA works alongside the Financial Conduct Authority (FCA) creating a “twin peaks” regulatory structure in the UK.
On 1 April 2013 the PRA became responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. In total the PRA regulates around 1,700 financial firms.