A to Z of Finance (Jargon Buster) - The Letter A

The world of Finance is full of buzz words and Jargon. In this section I'll translate a whole range of finance terms so you won't get caught out.

Index 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

This term is used to describe Credit Problems due to a poor credit history. CCJ's, Mortgage Arrears and other credit debt repayment problems lead to an Adverse Credit Rating. When the term 'adverse credit' is used: Adverse Credit Mortgages or Adverse Credit Loans or Poor Credit Rating Mortgages it is describing Loans or Mortgages for people with a poor credit rating.

APR

APR or Annual Percentage Rate basically determines the amount of interest you will pay and the term of the mortgage. The higher the APR the more interest you will pay, the lower the APR, the less you pay.

Arrangement Fees

Lenders are known to charge arrangement fees, these fees are charged for setting up your mortgage and they cover any work involved in arranging your mortgage. These charges are usually added to your mortgage.

Arrears

Mortgage Arrears is a term used used to describe missed or late mortgage repayments. If you are continuously unable to make payments you are likely to end up with a County Court Judgment or CCJ. Continuous non payment can also be described as defaulting on your mortgage or Mortgage Defaults. Finance Jungle will still accept enquiries from people who have had arrears or have CCJ's.

Typical, variable APR is 10.9%. Rates range from 7.7% to 18.3%
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP MORTGAGE OR DEBT REPAYMENTS SECURED ON IT
THINK CAREFULLY BEFORE SECURING ANY OTHER DEBT ON YOUR HOME. NON PAYMENT OF ANY LOAN CAN AFFECT YOUR CREDIT RATING

Every effort has been made to ensure that the facts here are correct. No liability is accepted for any errors contained herein or for any loss resulting from actions taken.