Loan Jargon - a comprehensive reference of loan terminology from i Secured Loans

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, Full List

Final Demand

A last reminder from a supplier to a customer to pay a debt. This is the often the last stage before the supplier start legal proceedings.

Final Discharge

The last payment on the amount outstanding on a debt.

Financial Advisor

A person whose job is to give investment advice

Financial Ombudsman

An organisation responsible for resolving complaints from the public about money matters.

Financial Services Authority

An independent body form in 1997 to: maintain market confidence, increase pubic knowledge of the financial system, give consumers the necessary protection and help fight financial crimes.

Finder's Fee

A fee paid to a person who finds a client for another company.

Fixed-Interest Loan or Fixed Rate Loan

A loan whose rate of interest stays the same

Forced Sale

A sale which happens because of a court order or because it's the only way for an individual to avoid a financial crisis

G

Gazump

This is where a seller verbally agrees a sale with a buy but then, before the agreement becomes legally binding, accepts a higher offer from another buyer. Gazumping is associated with the property market, but can happen in any market where prices are rising rapidly.

Guarantor

A person who guarantees repayment of a loan if the borrower defaults or can't pay.

H

Homeowner

A person who owns his or her own residential home.

Home improvement loan

A home improvement loan gives the borrow the cash funds to make improvements their property. This could be extra space as home extension, conservatory, loft conversion, new bathroom or kitchen.

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, Full List