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"Online Loans UK" FinanceLeadHouse offers you wide range of online & real easy...
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And now for you to be able to understand what all Loan terms are commonly evolved into the market, we herewith bring to you an instant Loan Glossary online. |
FLH :: Online Loan Glossary |
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Online Loan Glossary
U
Underwriting:
Where a company looks at known facts such as age and
health in order to assess the likelihood of you making a
claim on an insurance policy.
Unit
Linked Pension: Such pension contributions are
used to buy units in a pooled fund or funds. Unit-linked
pensions are invested in a variety of funds. The funds
are grouped together in sectors, representing the style,
area and risk level in which the relevant pension fund
has chosen to invest. As the value of the units may fall
and rise during the period of investment, care is taken
to 'spread' the investment in a variety of ways to
obtain the best return commensurate with prudent
investing.
Unit
Trusts: A unit trust is a portfolio of
investments that spread market risks. It allows an
investor to reduce their risk exposure by pooling their
investment. When investing in a unit trust, cash buys
units. Each unit trust has thousands of people holding
units in the fund. A unit trust is an open-ended
investment, as the number of units in each trust will
vary depending on supply. As more investors join, more
units are created. Unit trusts cover a variety of funds.
Unitized
with profits pension: With these pension
schemes payments are used to buy units in an insurance
company's with profits fund. The value of these
increases annually depending on the investment
performance and profits of the insurance company.
Unsecured
Personal Loan: A personal loan available from a
bank, building society or other financial institution
without security. They are usually covered by the terms
of the Consumer Credit Act. A lump sum will be loaned in
return for you agreeing to make regular repayments
usually by direct debit. Personal loans are available
from £500 up to £25K (security will usually be needed
for loans of large amounts) and are repayable over a
period of time, usually between 6 months and 10 years.
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Online Loan Glossary
V
Valuation: A check
of a property in order to find out how much it is worth
and whether it is suitable to lend a mortgage on.
Valuation
Fee: A fee payable to the lender to check what
a property is worth and if it is suitable to lend a
mortgage on.
Variable
Rate Mortgage: A variable rate mortgage is one
in which the amount you repay increases or decreases in
line with any interest rate changes. This means that you
cannot predict the monthly cost of the borrowing, which
could cause financial concerns within the mortgage
period.
VAT: This stands for Value Added Tax
which is charged on most things that a person buys.
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Online Loan Glossary
W
Will: A legal document that states where a person wants their
assets to go when they die.
With
profits bond: With Profits Bonds are single
premium Whole of Life policies offered by many insurance
companies and usually require lump sum investments. The
amount of life cover is normally only minimal, and most
With Profits Bonds are taken for investment growth and
not life cover alone. The investment buys units in the
insurer's With Profits fund. This fund invests in a wide
range of underlying assets such as shares, fixed
interest securities and property. Each year bonuses are
added to the sum assured either by an increase in the
price of units or by allocation of extra units.
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