Adverse Credit
Borrowed funds that have not been settled / repaid within the agreed timeframe.

Required details that are supplied by the borrower before a decision to lend can be processed and approved.

The APR or Annual Percentage Rate is the amount of interest charged over a 12 month period. It may also include set up fees and administration costs.
Any outstanding funds that have not been paid on time. These include missed payments.
Valued items that a borrower may use as security when applying for a loan.
Bad Credit
This is a term used to describe those with less than desirable borrowing histories. If you have been declared bankrupt in the past, or you have repeatedly failed to make repayments on time then you will be classed as a bad credit risk.
If a person is unable to make repayments because they have insufficient funds or assets to reimburse the lender, they may end up declared insolvent. There are two types of bankruptcy – which are voluntary, when a person declares their own insolvency, and involuntary, when a creditor has petitioned for a borrower to be declared insolvent.
When you need to bridge the gap between transactions. The most likely scenario to require a bridging loan is when you are selling one property and buying another. To work out the costs for a bridging loan we recommend using a bridging loan calculator to have an idea on what your repayments will be.
Equity or security.
Commercial Loan / Business Loan
A type of finance used for commercial / business reasons, as opposed to residential loans for homeowners.
Any fees charged by a broker in exchange for arranging finance through a lender on behalf of a borrower.
Consolidation / Debt Consolidation
Any finance package used to merge several smaller loans – typically to reduce monthly outgoings by means of lower interest rates.
Credit Rating
An overall borrowing score that is attributed to a borrower based on past loan repayments and responsibility towards personal debt.
Any third party that lends money to a business or individual.
Money owed to a creditor or financial institute.
Debt Consolidation
The restructuring of existing debts by means of a new payment plan which is typically a reduced amount when compared to previous monthly outgoings. There are numerous types of debt consolidation including secured loans, repayment plans, remortgaging, IVAs and filing for bankruptcy.
Debt Management
A repayment plan, or DMP (Debt Management Plan), offers a practical means of making a number of unsecured debts more affordable. DMPs are typically negotiated by a third party who will approach creditors on your behalf in order to reduce the cost of monthly repayments.
Someone who owes money to a creditor.
Failure to pay a debt, such as a loan or mortgage, on time results in the borrower “defaulting”.
Any money tied in with the value of a property or commercial enterprise once any outstanding finance secured on such collateral is taken into account.
Fixed Charge
A legal charge over a given asset. A debtor is unable to sell a property without permission from any creditors who have lent money using that property as security.
Fixed Interest Rate
An arranged level of interest that is not subject to fluctuation over a fixed period of time. Interest may be for a limited time only, or for the entire duration of a loan.
An Independent Financial Advisor
An IP, or Insolvency Practitioner, is a third party that specializes in insolvency issues. Accountants and solicitors are two examples of IPs.
An IVA is an Individual Voluntary Arrangement. IVAs are a government-backed incentive, designed to help borrowers clear their debts by repaying a partial amount of the outstanding balance instead of the full amount. IVAs are the most practical alternative to bankruptcy when financial obligations are proving impossible to meet.
Anyone who is unable to satisfy their existing borrowing commitments is considered insolvent.
The act of becoming insolvent or bankrupt.
The loan or mortgage provider you are borrowing from.
The conversion of assets into cash.
A secured loan taken out to finance the purchase of a residential property. The property itself being used as collateral for the loan.
Negative Equity
If the amount owed is worth more than the property itself then this is considered negative equity.
An Insolvency Practitioner acting on behalf of a borrower who is struggling to meet their financial commitments.
To sell off an asset in order to raise funds. For example, a property may be realised in order to pay off a number of debts.
To recover monies owed.

A remortgage is a secondary mortgage that replaces the previous loan, often releasing some or all of the equity tied in with the original asset. The new loan is used to pay off the existing debt and may also provide additional finances which can be used for other purposes such as home improvements or debt consolidation. Remortgaging is also a useful method of transferring a debt to a new lender offering lower interest rates.
Whenever an Insolvency Practitioner or Official Receiver is no longer required as an administrator or liquidator, they are typically discharged or “released” from the role.
Secured Creditor
A creditor who has lent you money whilst using your home or another asset as security.
Typically a property such as a residential home, security can be anything of value that may be sold by the creditor if you are unwilling or unable to make repayments on a debt.
Settlement Figure
The cash sum required to repay an outstanding loan balance in full.
Anyone living in a property that they do not own who pays rent to a landlord or housing association.
Unsecured Creditor
A lender who provides finance without the prerequisite of security.
Unsecured Loan
A type of loan that is typically made available to those with good credit ratings or healthy finances. An unsecured loan does not require a property or any other asset as security. This may because the borrower has a good financial position or credit rating.

Sitemap is a credit broker. In the case of unsecured loans, the REPRESENTATIVE APR is 9.3% variable. 51% of borrowers get this rate or less Representative example: - £10000 over 60 months at an interest rate of 9.3% per annum. Monthly repayment £206.86. Total amount payable £12416.46.


65% of secured loan borrowers should get rates less than our TYPICAL 13.8% APR including those who have credit problems. APR’s are variable in most cases. In some cases a secured loan processing cost may be charged, which is deducted from the loan on completion and included in the interest rate quoted. This charge covers the cost of property valuation, mortgage references, consent to register a second charge, land registry search’s, credit references, staff costs, marketing and variable costs associated with your loan and is on average 8% of the loan amount. The amount of any fee and the actual rate available will depend on your circumstances and will be discussed with you at an early stage. Extending the loan over a longer period can reduce your monthly payments but may increase the total cost of credit.