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

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

Valuation Report

Lenders arrange a valuation to find out the value of the property you require a mortgage on. They will ascertain if the agreed asking price is right for the poperty and they will then decide if they would be willing to grant you the mortgage amount you want.

Variable Rate Mortgage

A variable base rate is a level of interest charged by lenders that depending on current market conditions can go up or down. A rise in interest rates could mean that you would struggle to make repayments. The best tactic is not to borrow to your limit but at a level where you could cope with fluctuations in interest rates.

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.