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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
- Adverse Credit
- Bad credit records, such as CCJ’s, repossession orders, IVA’s or arrears.
- Additional Borrowing
- Additional borrowing is similar to a bank account overdraft. It is extra money which you borrow on top of the amount you have already borrowed. Your additional borrowing = Your Agreed/Total Facility – Total Borrowing.
- Advance
- The amount of loan the customer borrows.
- AER
- The Annual Equivalent Rate species the interest paid from current, deposit or savings accounts. It is generally quoted on interest paid on savings and investments. It shows what the rate would be if interest was paid just once a year.
- AFPC
- Advanced Financial Planning Certificate is a professional qualification for financial advisers obtained by examination through the Chartered Insurance Institute. Holders are eligible for membership of the Society of Financial Advisers.
- Allowance
- Increased personal allowance for Income Tax for persons aged over 65. A further increase is available to persons over 75.
- AIFA
- Association of Independent Financial Advisers, industry trade body for financial advisers who are not tied agents.
- Allocation Rate
- This is the percentage of your payment that is actually invested after initial charges have been taken into account.
- Annuity
- A series of payments, sometimes subject to increases, made at specified intervals until a particular event occurs. An annuity will cease after a specified period or upon the death of the annuitant. An annuity is most commonly purchased by the accrued value of a pension fund, in order to secure regular payouts in retirement.
- APR
- Annual Percentage Rate charged. The true rate of interest charged on a loan taking into account the total cost of interest and other charges. The APR is always higher than the headline rate, and is a realistic representation of the cost of the loan over time.
- Arrangement Fee
- A fee you pay to the lender in return for a mortgage deal.
- Assets
- Another word for the investments which a unit trust holds within its portfolio.
- Assessed Valuation
- The value of a property may only be assessed where the property has been owned for at least 6 months. Proof of purchase price is required. The value of the property is assessed by multiplying the purchase price.
- Applicant
- Applicant is a person applying for a loan.
- Autoscore
- Autoscore is the process of using specialised online credit search databases to identify an applicant’s credit status.
- Audit
- An audit is an official examination of accounts by a qualified accountant external to the company.
- Average Annual Return
- This is used to compare returns over different periods on a consistent basis with the unit being years. Normally only returns over periods greater than one year are annualised. The average annual return is the rate that an investor would have earned in each year to achieve the total cumulative return over the period.
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