Home » Glossary
Glossary
Accident
Cover that pays a monthly amount of cash for a limited period if you can't work or are made redundant.
Accrual rate
Rate at which pension benefits grow within an Occupational Pension Scheme for each year in service. Usually expressed as a fraction of final salary.
Act of God
An accident or event, which happens due to natural causes such as storm which no one could foresee.
Annual Percentage Rate
This rate takes into account all the costs, interest charges and arrangement fees and allows you to compare credit facilities on a like for like basis.
Annuity
This is a series of regular payments that you receive for the rest of your life, in exchange for a lump sum /pension fund that you have built up over your working life.
APR
The Annual Percentage Rate. This rate takes into account all the costs, interest charges and arrangement fees and allows you to compare credit facilities on a like for like basis.
Base rate
Interest rate set by the Bank of England, used to determine borrowing and savings rates across the UK.
CCA
Consumer Credit Act - UK legislation which sets the rules for the way in which banks and other lenders lend money to members of the public.
Death Benefit
A life insurance payment made upon the death of an insured person.
Financial Services Authority (FSA)
The single regulatory authority for the UK financial services industry, setting the rules for how financial companies operate and looking out for the public's interests.
Flexible loan
A loan that allows you to borrow up to an agreed amount, so that you can increase or decrease the loan depending on how much money you need from time to time.
FSA
The single regulatory authority for the UK financial services industry, setting the rules for how financial companies operate and looking out for the public's interests.
IFA
Independent Financial Adviser - an independent expert who is authorised to sell or advise on the policies offered by insurance companies, as well as other financial service providers, such as banks and building societies.
Personal Loan
A loan which you take out as an individual, with a fixed interest rate and a fixed number of repayments.
Secured loan
A loan for which you put up an asset, such as your home, as security; if you do not keep up you repayments, the lender can sell your home to get their money back.
Unsecured loan
A loan for which you don't have to put up an asset, such as your home, as security that the loan will be repaid.
This Financial Glossary is provided for assistance only. If you are in any doubt about a financial term, you should seek independent financial advice.
Strategy Corporate Finance
Business funding, small business loans, business angels, factoring, asset finance, trade finance, grant funding, property finance and professional management consultants.
Cover that pays a monthly amount of cash for a limited period if you can't work or are made redundant.
Accrual rate
Rate at which pension benefits grow within an Occupational Pension Scheme for each year in service. Usually expressed as a fraction of final salary.
Act of God
An accident or event, which happens due to natural causes such as storm which no one could foresee.
Annual Percentage Rate
This rate takes into account all the costs, interest charges and arrangement fees and allows you to compare credit facilities on a like for like basis.
Annuity
This is a series of regular payments that you receive for the rest of your life, in exchange for a lump sum /pension fund that you have built up over your working life.
APR
The Annual Percentage Rate. This rate takes into account all the costs, interest charges and arrangement fees and allows you to compare credit facilities on a like for like basis.
Base rate
Interest rate set by the Bank of England, used to determine borrowing and savings rates across the UK.
CCA
Consumer Credit Act - UK legislation which sets the rules for the way in which banks and other lenders lend money to members of the public.
Death Benefit
A life insurance payment made upon the death of an insured person.
Financial Services Authority (FSA)
The single regulatory authority for the UK financial services industry, setting the rules for how financial companies operate and looking out for the public's interests.
Flexible loan
A loan that allows you to borrow up to an agreed amount, so that you can increase or decrease the loan depending on how much money you need from time to time.
FSA
The single regulatory authority for the UK financial services industry, setting the rules for how financial companies operate and looking out for the public's interests.
IFA
Independent Financial Adviser - an independent expert who is authorised to sell or advise on the policies offered by insurance companies, as well as other financial service providers, such as banks and building societies.
Personal Loan
A loan which you take out as an individual, with a fixed interest rate and a fixed number of repayments.
Secured loan
A loan for which you put up an asset, such as your home, as security; if you do not keep up you repayments, the lender can sell your home to get their money back.
Unsecured loan
A loan for which you don't have to put up an asset, such as your home, as security that the loan will be repaid.
This Financial Glossary is provided for assistance only. If you are in any doubt about a financial term, you should seek independent financial advice.
Strategy Corporate Finance
Business funding, small business loans, business angels, factoring, asset finance, trade finance, grant funding, property finance and professional management consultants.
