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.
Negative Equity
A situation that occurs when the amount loaned against a property is in excess of the market value of the property.
Net Interest
The interest paid on a savings account after tax has been deducted.
Non Status
This is a type of mortgage for people that have difficulty in establishing their income, company directors, contract workers and the self-employed.
Notice Accounts
A savings account that requires the saver to inform the bank or building society of their intention to withdraw money.
Notice of Default
A lender's initial contact when you have fallen behind on your credit repayments.