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Welcome to the Finance glossary, we have made this glossary to make you more comfortable in finding and understanding the finance terms. This is brought to you by the loan uk .
Use the A-Z alphabetical list to find definitions of key finance terms.Our aim is to provide the mostcomprehensive glossary of UK financial terms on the internet
Finance Terminology - D
Daily Interest
Where interest is applied on a daily basis instead of the usual monthly time frame.
Data Protection Act (1988)
Regulations introduced to protect the transfer of personal data within and between different organisations. Remember that every time you apply for a store loyalty card, credit facility or magazine subscription, you are handing over substantial amounts of personal data for organisations to trade in. Whilst this data may enable them to make special offers which "may be of use to you", it also means more opportunity to sell you products or services you would not otherwise have bought. If you are not the kind of person to say no easily, make sure you always tick the "no marketing material" box.
Debt
Funds owed to lender.
Debt Consolidation
Replacing a number of existing loans with a single loan from a new lender which may reduce your monthly payments by spreading out a larger loan over a longer period of time, and reducing the interest rate being paid.
Debt-To-Income Ratio
A method used by lenders to establish if a person is qualified to receive a mortgage or loan.
Deed
The document that proves you own the property. It will also show any land boundaries.
Deed Of Covenant
The document expressing the terms of a covenant (a binding agreement), which may typically be imposed by a lender to restrict certain activities, such as use of a house for commercial purposes, or sub-letting.
Deed Of Proxy
A document enabling one person to manage the financial and legal affairs of another individual.
Deeds Release Fee
This fee is charged by the lender for releasing the deeds of the mortgaged property and returning them to the owner or his solicitor, usually when the mortgage has been repaid.
Default
When a payment or a series of payments are missed.
Default Notice
A letter served by a creditor to the borrower to say that a credit agreement has been breached, and that action must be taken by the individual to prevent the creditor seeking repayment via a County Court Judgement.
Deferral Period
A time period on a loan during which no repayments need to be made. This is particularly popular with student and graduate loans, to enable young people to finish their studies, or to travel, before having to start making repayments. "Buy now, nothing to pay until next year" type offers in furniture and other stores also operate with deferral periods.
Deferred Interest
A type of loan where some or all of the interest owed by the borrower is added to the amount outstanding which therefore causes the borrower to owe much more than originally borrowed.
Delinquency
Not making payments at the correct time.
Delinquent Loan
A loan whereby the borrower is behind on payments. If payments are not brought up to date within a set time frame the lender may foreclose proceedings.
Dependant
An individual who depends financially on another person.
Despatch Fee
See deeds release fee.
Direct Debit
A method of making automatic payments electronically from a current account. Direct debits may be at fixed intervals - e.g. for a monthly credit card or quarterly fuel bill, and they may be fixed (e.g. a monthly membership fee), or variable, such as for a mobile phone bill. Direct Debits can also be for irregular payments, such as buying shares.
Direct Lenders
Lenders who operate on lower overheads, through use of call centres, mailing houses, or internet based operations, instead of an expensive branch-based network. Although direct lenders.
Disbursements
Search fees, land registration, stamp duties are all examples of disbursement.
Disc
An abbreviation for discount.
Discharged Bankrupt
Person whose period of bankruptcy has ended.
Discharged CCJ
A county court judgement that has been paid.
Disclaimer
Any written notice designed to discharge liability of a company, for providing inaccurate information in a leaflet.
Discount Period
Time period in which reduced payments are offered.
Discount Purchase Price
The price of a property which has been reduced below the open-market value, such as in the case of a right-to-buy purchase or a builder's discount. Under right to buy legislation, properties are not offered at the open market value, but at a discount, and if the property is resold within a three-year period, some or all of the discount will have to be repaid.
Discount Rate
The mortgage interest rate is lower than the current normal standard variable rate, but only for a certain period of time. Usually shown as a fixed percentage reduction to the lender's normal variable rate e.g. 2.00% discount for 2 years.
DSS Payments
Income received from the department of social security towards the payment of mortgage or rent. They are used by a lender only in exceptional circumstances to confirm the ability to service a loan. Benefits are only paid after the first 39 weeks of an income support claim.
DAX 30 Index
The main real-time German share index containing 30 of the biggest companies listed on the Frankfurt Stock Exchange. The DAX is a 'total return' index in that it measures the returns from dividends as well as share price performance.
Day trading
The trade of buying and selling stocks by individuals known as day traders during a trading day. The aim is to make a profit on the day and not hold stocks at the close of the trading session.
Debenture stock
A form of loan stock legally defined as the written acknowledgement of a debt incurred by a company, normally containing provisions about the payment of interest and the eventual repayment of capital.They may be secured by a floating charge on the company's assets or they may be tied to specific, named assets. This means that if the company goes into liquidation then debenture holders are more likely to get payment because the company's assets will be sold and the proceeds will be distributed to them first before other stock and share holders.
Deflation
The rate at which the general level of prices for goods and services is decreasing - the opposite of inflation.
Deferred shares
Shares that do not receive income either for a set period or until share income reaches a certain level.
Dematerialisation
The increase in electronic technology and the introduction of systems, such as, Crest in the Stock Exchange has meant that paper share certificates are no longer needed. Instead ownership of shares can be logged electronically in a Crest account and contract notes, confirmation of share transactions, can be sent electronically.
Demutualisation
The process of changing the legal structure of a company from a mutual form of ownership to a stock form of ownership: recently very common with building societies and insurance companies.
Depositary receipt
A certificate which gives the holder, ownership of a specified number of shares in a company that have been deposited with a financial institution
Depreciation
Accounting procedure that spreads the cost of an asset over the life time of the asset.
Derivatives
An investment contract, such as futures and options, which involves the right to buy or sell the underlying instrument at an agreed price. The value of a derivative instrument depends on (ie derived from) the value of another asset. Derivatives can be used to hedge any sort of risk such as foreign exchange or future. For example a company planning to invest money on deposit in the future can buy a derivative to potect against the risk of interest rates falling, ie, hedging against the interest rate risk.
Discount rate
Rate used to calculate the present value of future cash flows.
Discounted rate mortgage
A mortgage which guarantees that the interest rate charged will be lower than the lender's standard variable rate.The lower rate offered is usually set for a specified period of time and reverts to the standard rate after that period.
Discretionary management
A broker who has authority to execute all decisions regarding stocks and shares on behalf of his client without getting prior approval.
Distribution
The payment of dividends to shareholders from the company's profits.
Dividend
The distribution of part of the company's profits to the shareholders. Dividends are paid twice a year, the mid-year payment is known as the interim dividend, and the end-of-year payment is called the final dividend.
Dividend yield
The dividend yield is the return that you are getting for investing in a company. It is calculated by dividing the dividend by the current share price, expressed as a percentage. The gross dividend yield is used in preference to the net dividend yield, so that investors can make a direct comparison with (gross) interest yields from loanstocks and gilts.
Dow Jones Industrial Average
'The Dow' is one of the main USA share indices which monitors the performance of 30 industrial companies traded on the New York Stock Exchange.
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