Jargon Buster
A glossary of commonly used consumer finance terms
Within all aspects of consumer finance: Mortgages, Loans, Credit Cards or Savings the use of jargon and accepted industry terms is widespread. Our comprehensive jargon buster explains what those terms mean in an effort to demystify consumer finance.
Gazumping
Where the seller accepts a higher bid after accepting you offer.
Gross Interest
The interest paid on a savings account before the deduction of tax.
Ground Rent
When you are a leaseholder you will probably have to pay ground rent to the person that owns the land you property stands on.
Guaranteed Earned Income
Is income that you receive along with your basic salary that is not part of your normal basic pay under the terms and conditions of your employment but which you are guaranteed to receive.
Guarantor
A Guarantor is a person who agrees to guarantee that a loan will be paid. The guarantor is therefore fully liable for the repayment of the borrowed amount should the borrower default.