What are Property Transaction Codes?
These Codes indicate the specific purpose of a payment related to property purchases or loans, ensuring compliance with regulatory guidelines.
The Property Transaction Codes, along with the explanation of when to use each one, is set out in the table below.
Purpose code |
Name |
When should I use this code? |
HLRP |
Property Loan Repayment |
When the transaction relates to the part repayment of a property loan or mortgage |
HLST |
Property Loan Settlement |
When the transaction relates to the final repayment of a property loan or mortgage |
PLDS |
Property Loan Disbursement |
When the lender pays funds, in full or part, in relation to a property loan or mortgage |
PDEP |
Property Deposit |
When the transaction relates to payment of the deposit towards the purchase of a property |
PCOM |
Property Completion Payment |
When the transaction is the final payment to complete the purchase of a property |
PLRF |
Property Loan Refinancing |
When the transaction relates to the transfer or extension of a property finance arrangement, without change of ownership of the property |
