| Home About Us Apply On-line Call Me Back Secured Loans Homeowner Loans Consolidation Loans Customer Testimonials Lender Testimonials Loan Jargon Buster Latest Loan News Loan Purpose My Situation |
|
 |
|
 |
|
|
|
 |
|
 |
| Please select a letter to find a description i.e. for "interest" select "I" from the table below. |
 |
A way companies can borrow money. The loan can be secured against the value of outstanding invoices, rather than a property. It is also known as invoicing discounting. |
| Field Sales Advisors visit Customers at home to provide additional help and information to understand illustrations and to complete the applications for loans and mortgages. |
Finance Broker |
An Intermediary who arranges loans or mortgages for applicants with a Lender able to provide it. The Broker undertakes all the applicants research and carries out the administration involved in processing the loan. |
Financial Ombudsman Service (FOS) |
The independent service for settling disputes between businesses providing financial services and their customers. |
| The Financial Services Authority (FSA) is an independent organization, set up by the UK government and given statutory (legal) powers by the Financial Services and Markets Act 2000. The Financial Services Authority is responsible for regulating financial services markets and firms in the UK by setting the standards that financial service firms must meet. The Financial Services Authority can take legal action against firms if they fail to meet the required standards. The FSA website can be found at www.fsa.gov.uk |
First Charge |
A Lender takes security over a mortgage or loan by issuing a first charge over the property to ensure that no one else has the right to sell the property without settling the first charge. Many Lenders particularly in the secured loan market will issue a 2nd charge, but the first takes priority. |
First Time Buyer |
| Someone who has never owned a property and who doesn't have a property to sell. |
Fixed Rate |
| A "fixed rate" is an interest rate that is fixed for a specified period of time. Having a loan based on a fixed rate of interest means that you know what your monthly repayments will be during the fixed interest period - they will not change even if interest rates generally go up or down. After the end of the fixed interest rate period, the Lender's standard variable rate of interest will then apply to the loan for the rest of the term and the monthly repayments can be higher or lower than before the end of the fixed interest period. Most Lenders will charge a higher early settlement penalty if you settle your loan or mortgage within the fixed period. |
Flexible Mortgages |
A type of mortgage offered by some Lenders where the terms include features such as being able to vary your monthly repayments in line with your circumstances, they may allow you to take "payment holidays" and borrow back any overpayments that you have made. |
Footprint |
If a Lender carries out a credit check this will leave a mark or 'footprint' for other Lenders to see. |
FOS |
Refer to Financial Ombudsman Service. |
Freehold Property |
Freehold is a legal term that indicates that land or property is owned outright and is not subject to any lease. The owner of the land or property is referred to as the freeholder. |
FSA |
Refer to Financial Services Authority. |
Full Structural Survey |
The highest level of property inspection, which is normally the most expensive. A detailed analysis of the property is undertaken by the surveyor. You can also ask the surveyor to check any concerns you may have. If the surveyor misses something which subsequently becomes a problem you have a legal right to sue the surveyors firm to recover any costs incurred. |
Further Advance |
Additional borrowings on an existing loan or mortgage account. |
 |
||||||||
 |
||||||||
|
||||||||
 |
||||||||
|
||||||||
|
||||||||
|
||||||||
|
||||||||
 |
||||||||
The overall cost for comparison is 10.8% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. Our rates start from 7.9% APR variable. We also have a range of plans with rates up to 17.5% APR allowing us to help customers even with the most severe credit problems. If you are thinking of consolidating existing borrowing you should be aware that you will be extending the terms of the debt and increasing the total amount you repay. A fee of between 0% and 10% of the loan may be charged depending on credit history and ability to prove income. The amount of fee will depend on your circumstances, however, we estimate that it will be 5% of the loan amount.