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A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
Letter P
Part & part
An industry term referring to a hybrid type loan, of which
part is interest only (i.e. the capital never declines) and the other part being
repaid as on a capital & repayment basis. The outstanding capital that is left
at the end of the term due to the interest only element would be expected to be
repaid from a proceeds of an endowment policy or other investment such as a
pension.
Part & Part mortgages are becoming more commonplace nowadays as people do not
want to take on additional endowments but it is not considered best advice to
cancel existing ones, additional borrowing is done on a part & part basis were
the original endowment does the job it was taken out to do and the repayment
element is for the additional new borrowing.
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