Jargon Buster

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There are 5 names in this directory beginning with the letter A.
Adverse Credit
Is a poor repayment track record of current of previous financial commitments This can affect whether a lender will grant you a mortgage.
Agreement in Principle
This is an initial assessment of your financial circumstances and past credit history to indicate if they are likely to lend you a certain amount over a given term. This will generally include a credit search.
APR
Annual percentage rate. The overall cost of a mortgage, including the interest and fees. It assumes you will have the mortgage for the whole term.
Arrangement Fee
A fee charged by some lenders for arranging the mortgage. Tracker and variable rates are generally
ASU
Accident sickness and unemployment insurance, sometimes called MPPI (Mortgage Payment Protection Insurance). This is generally a short term insurance (one to two years) that is designed to cover the amount of your mortgage and associated costs if you are unable to work due to accident, sickness or unemployment.