24 Hour Loans glossary of financial terms

Section A

Access
Additional cardholder
Additional Loan Security
Additional Principal Payment
Additional Loan Security
Additional Security Fee
Add-on Interest
Adjustment Date
Administration Fee
Advance
Adverse Credit
Adverse Possession
Advertising Regulations
Affiant
Affidavit swear
Affinity card
Agreement in Principle
Allocation Rate
Alternative Investments
Annual Bonus
Annual percentage rate (APR)
Annualised Percentage Rate
Annualised Percentage Rate (APR)
Applicant Type
Application
Application Fee
Applied or Nominal Interest Rate
Appointed Representative
Apportionment
Arrangement Fee
Arrears
Arrears Breakdown
Arrears Fee
Association of British Insurers
Average Credit Quality

Section B

Balance Breakdown
Balance Outstanding
Balance Sheet
Balance Transfer
Balloon Loan
Balloon Payment
Bank of England base rate
Bankrupt
Bankruptcy
Bankruptcy Order
Base Rate
Basic Annual Income
Before-tax Earned Income
Before-Tax Income
Beneficiary
Benefit
Benefit Period
Biweekly Loan
Black Listed
Blue Chip
Breach of Contract
British Insurance and Investment Brokers’ Association
Broker
Broker Fee
Brokerage
BSA – Building Societies Association
Budgeting
Building Society
Buy to Let

Section C

Cancellation Clause
Cancellation Notice
Cancellation Period
Cap
Capital
Capital & Interest Repayment Mortgage
Capital Assets
Capital Expenditures
Capital Gain
Capital Gains Tax
Capital Loss
Cash
Cash Account
Cash Advance
Cash Surrender Value
Cashback
Circumstances
Circumstantial Lending
Code of Practice
Commission
Commission Amount
Commitment Fee
Common Law Partner
Completion
Compound Interest
Compulsory Products
Consideration Period
Consolidation
Consumer Credit Act
Content Insurance
Conveyance
Conveyancing
Cooling Off Period
Council of Mortgage Lenders
County Court Fee
County Court Judgement
Credit
Credit Agencies
Credit Agreement
Credit Adverse
Credit Card
Credit History
Credit Limit
Credit Rating
Credit Reference Agency
Credit Report
Credit Union
Credit Worthy
Creditor

Section D

Daily Interest
Data Protection Act
Debit Card
Debt
Debt Consolidation
Debt Management
Debt-to-income Ratio
Decision in Principle
Deducted From Loan
Default
Defects
Deferral Period
Deferred Interest
Deflation
Delinquency
Delinquent Loan
Dependants
Deposit
Depreciation
Direct Debit
Direct Lenders
Discount Brokerage
Discount Period
Discount Rate
Discounted Loans
Discounted Rate
Disinflation
Distressed Property
Distribution
Diversification
Divestiture
Document Needs List

Section E

Early Redemption Charges
Early Redemption Penalty
Early Repayment Period
Earned Income
Effective Gross Income
Eligibility Criteria
E-Loans
Employer’s Reference
Employment Status
Encumbrance
Ending Balance
Endowment
Equity
Equity Appreciation
Equity Release
Essential Services
Existing Liabilities
Extended Redemption Penalty

Section F

Face Value
Failed Valuation Survey
Feuhold
Finance
Financial Advisor
Financial Year
First Charge
First Mortgage
First Time Buyer
FISA
Fixed Rate
Fixed Rates
Fixed Rate Loans
Flexible Loan
Flexible Mortgage
Fraud Protection
Fraudulent
Freehold
Freehold Flat
FSA
FTB
Full Status
Further Advance

Section G

Good-faith Estimate
Grace Period
Gross Income
Ground Rent
Guaranteed Earned Income
Guarantor

Section H

Hard Money Lender
High Lending Charge
High Loan To Value Fee
High Street Lenders
HMLR
Home Equity Loans
Home Improvements
Home Insurance
Housing Association

Section I

IFA – Independent Financial Advisor
IFS
Impaired Credit
Impaired Credit
Income Multipliers or Multiples
Income References
Indemnity Guarantee Premium (IGP)
Individual Savings Account (ISA)
Individual Voluntary Agreement (IVA)
Inflation
Instant Approval
Insurance Term
Interest
Interest Rate
Intermediaries
Internet Banks
Introducer
Introductory Rate
Irregular Earned Income

Section J

Joint Application
Joint Income
Joint Liability

Section L

Land Registry
Late Charge
Late Payment
Leasehold
Legal Charge
Lender’s Arrangement Fees
Lenders Fees
Liabilities
Lloyd’s
Loan Application
Loan Application Fee
Loan Calculator
Loan Consolidation
Loan Illustration
Loan Term
Loan to Value
Loan to Value (LTV)
Local Authority Search
Local Authority Searches
Lock In
Lock-in Period
Low Cost Endowment

Section M

Major Defects
Market Value
Minimum Payment
Monthly Fee
Monthly Repayment

Section N

Negative Equity
Net Income
Net Monthly Repayment
No Credit History
Non Contributory Pension Income
Non Status
Not in Employment
Notice of Correction
Notice of Default

Section O

Obligatory Insurance
Order of Discharge
Outgoings
Outstanding Balance
Outstanding Discount
Overdraft

Section P

Part Endowment
Pay Rate
Payday Loans
Payday Loans
Payment Date
Payment Default
Payment Holiday
Payment of Balance
Personal Equity Plan
Personal Loan
Plastic
Premium
Prepaid Credit Card
Prepaid Interest
Prepayment Penalty
Prime Rate
Principal
Proof of Income

Section Q

Qualified Rules
Quotation
Quotations

Section R

Redundancy Insurance
Regular Earned Income
Regulated Loan
Regulatory Body
Remaining Balance
Repayment Period

Section S

S32 Buy-Out Bond
Salary
Second Charge
Secured Credit Card
Secured Loan
Security
Security Address
Structural Survey
Self Certification
Self-employed
Settlement Fee
Standard Payment Calculation
Stepped Discount Loan
Stepped Fixed Rate Loan
Subject to Status

Section T

Term Assurance
Tie-in Period
Top-up Loan
Treasury Product
Typical APR
Typical APR (Annual Percentage Rate)

Section U

Underpayment
Underwriting
Unemployment Insurance
Unencumbered
Unsecured Loan

Section V

Valuation
Valuation Fee
Variable Interest Rate
Variable Rate
Verification of Deposit
Verification of Employment
Voluntary Arrangement

Section Y

Waiver of Premium

Section Z

Zero Rated

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