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

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

Payment Break

This term is more commonly called a payment holiday. If agreed with your lender, Payments can be stopped for a limited period whilst you get over a financial tight spot. Also see Overpayments and Underpayments.

Personal Loan

A personal loan is a term used to cover secured loans and unsecured loans. This is a loan taken out by a person or persons hence the name Personal Loan. This type of loan can also be called: Personal Secured Loan, Homeowner Personal Secured Loan and Personal Homeowner Loans

Poor Credit

This is a term used to describe Credit Problems due to an adverse credit history. CCJ's, Mortgage Arrears and other credit debt repayment problems can result in a Poor Credit Rating. Poor Credit is more of a UK term and is used used to describe finance such as: Poor Credit Mortgages or Poor Credit Loans.

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.