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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 - E
Early Payment Discount
A discount offered for payment of a bill before the due date. This is common practice with utility companies, as it saves the paperwork required in sending out reminders. However, paying by direct debit is usually cheaper.
Early Redemption Payment
Penalty charged by a lender for withdrawing from a mortgage before the date specified in the mortgage conditions. These penalties are usually associated with fixed or discounted loans.
Early Repayment Period
Period in which charges are levied by the lender when the mortgage loan is repaid before the end of the full term.
Effective Gross Income
Total income, including extra income that the lender considers when assessing a loan application, such as bonuses, rent payments, alimony or share dividends.
Employed
Refers to a person who has an open-ended contract of employment and has income tax and national insurance contributions deducted from their salary.
Employee
A person who works for a company, government body, or other organisation, as opposed to someone who does not work (un-employed), or someone who works for their own company (self-employed).
Employer
Any business, government body, or other organisation which has one or more staff members.
Employer's Reference
A written statement from an employer confirming the borrower's employment, giving details of salary and length of service. This is essential in assessing an employee's ability to repay the mortgage.
Employment Status
The individual's employment position. That can be either employed, self-employed or unemployed; full time or part time.
Endowment
A life assurance policy into which you pay monthly premiums. The proceeds are free from all taxes as long as the policy conforms to all the qualifying rules. See also: with profit, unit linked, unitised with profits.
Equity
The share that you own in your home, i.e. The property value less the mortgage loan outstanding.
Equity Appreciation
Increase in the equity you have in your home.
Exclusive Products
Particular mortgage lenders fund and administrate certain mortgage products that are only available whilst such mortgage products are funded and administered by a particular mortgage lender, they are available only from certain mortgage brokers or other particular distribution channels.
Executor
A person who executes the instructions in a will.
Existing Liabilities
Loans and other repayments which are taken into account by lenders when you apply for a mortgage.
Extended Redemption Penalty
When a redemption penalty continues beyond capped and fixed rates.
Extension
An addition to any existing property in order to provide more space. Major extensions should always be drawn up by an RIBA registered Architect, and will require planning permission from the relevant local authority. See also: overdraft extension.
Early-redemption penalty
A financial penalty that is levied by mortgage lenders for switching to another lender. This is payable on certain types of loans, such as, discount and fixed-interest rate loans upon early redemption or part redemption during the specified early redemption period.
Earnings per share (EPS)
The EPS is calculated by dividing the earnings (pre-tax profits) by the number of shares in issue.This is one of the key ratios that is used in the valuation of shares as it expresses the amount of profit a company manages to make per share.
Emerging markets
The Stock Markets based in developing countries that have a low income per head compared with the developed world. These are attractive markets for speculative investors in the western countries because there is potential for rapid economic growth but at a higher economic and political risk.
Endowment policy
A policy which combines investment with insurance and runs for a specific period. It builds up a cash value, generally on either a with-profit or with unit-linked basis and is paid out at the end of the policy term or when you die (whichever is the earliest).
Enhanced Scrip Dividend
A dividend that is in the form of shares rather than cash. To encourage shareholders to take the scrip dividend the value of the shares is usually greater than the cash dividend.
Equity capital
Another term for ordinary share capital - the owners of the equity capital are collectively the owners of the company. They are the risk bearing shareholders as they benefit from capital growth if the share price rises but bear the highest risk if the company is wound up, as they will be last to receive payment.
Ethical investments
Investments that are made in companies that make a postive contribution to the world and are kind to the environment. Most ethical investments are made through a managed investment fund such as a unit trust or pension fund, as it is difficult for an individual investor to judge whether a particular company is ethical or not.
Euro
The Euro is Europe's new unit of currency that was officially launched in January 1999 in eleven countries in the European Union. All of the national notes and coins in the relevant countries will ceased to be legal tender by the end of February 2002, however, banks will contine to accept them until 2004. Britain has not yet signed up to the referendum to adopt the Euro and therefore still keeps the pound.
Eurosterling bond
A corporate bond issued by a UK company that wants to raise money in the international markets instead of its home market.
Exceptional items
Items listed in a company's profit and loss account that are associated with the normal activity of the company but are exceptional in their size.
Ex-dividend
A share sold without the right to the next declared dividend payment.
Execution only
A type of sharedealing service where the customer make his or her own investment decision and the stockbroker just carries out the transaction.
Exercise price
The specific price paid for shares if an investor exercises a warrant or option to buy.
Exit charge
Payment that has to be made by an investor selling an investment.
Exposure
The vulnerability that is attached with an investment. There are different types of exposures that an investment may have, such as, currency exposure or economic exposure. For example, currency exposure is the proportion of your share portfolio that is at risk to exchange rate fluctuations.
Extraordinary general meeting (EGM)
A meeting called either by the Board of Directors or shareholders of a company to discuss special business. This would include matters, such as, a proposed takeover or merger, or a substantial change in the way the business is to be run. (If the meeting is called by shareholders then they must hold at least 10% of the voting rights of the company's shares).
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