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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 - T
Telegraphic Transfer
The electronic transfer of money.
Term
The mortgage term is the length of time before the mortgage loan must be repaid.
Term Assurance
This is the simplest form of life assurance. The insured person is covered against death within a fixed period depending up on the payment of the premiums. If an insured person dies within the policy term the sum assured is paid out. If the insured person survives the term the premium has been spent and the insurance ends with nothing being paid to the policyholders.
Terminal Bonus
This bonus is paid at the end of an endowment mortgage and will depend on the performance of the investment fund you are using to repay your mortgage.
Terms
Simplest form of life assurance. The insured person or persons are covered against death within a fixed period subject to the payment of the premiums, which is normally monthly or yearly. If an insured person dies within the policy term the sum assured is paid out. If all insured persons survive the term the premium has been spent and the insurance ends with nothing being paid to the policyholders.
Thatched Roof
Insurers will normally impose special terms for fire insurance on thatched properties. It is advisable to check that full fire cover is available with an insurer acceptable to the lender before proceeding.
The Council Of Mortgage Lenders (CML)
This board publishes many booklets on buying property and ways to protect the borrowers.
Threshold
IG premium the loan to value ratio above which mortgage indemnity guarantee premiums are payable.
Tied Agents
Most advisers and agents have access to mortgages that you would not normally find on the high street. They may be part of a particular financial organisation or estate agent. Therefore they are not fully independent.
Timber Framed
A method of house construction. Timber framed properties have traditionally suffered from poor damp-proofing and so this restricts the number of lenders willing to accept them as security.
Top Up Loan
A form of second mortgage, used to provide an overall loan in excess of the loan to value ratio allowed by the primary lender. Top up loans will invariably be charged at a higher rate than the first mortgage.
Top-Down
An approach for analysing whole markets by using economic data, for predicting market direction, and estimating profit growth.
Tracking
A process of following the progress of a loan application. This information should be fed back from the lender or packager to the introducer.
Treasury Product
A mortgage that has conditions that control the future of the interest rate, so that the rate is not totally subject to market interest rate movements.
Typical Apr
An example of the annual percentage rate for a given mortgage product.
Tax credit
Dividends payments are received in net because companies are required to deduct tax when paying out a dividend. If your rate of tax is lower than the rate paid by the company, then you are allowed to receive the difference as tax credit.
Tax avoidance
An attempt to minimise the tax payable by legal means.
Tax-efficient investments
Investments that have less of a tax consequence than other investments
Tax evasion
An attempt to minimise the tax payable by illegal means, e.g., by reporting inaccurately.
Tax year
The tax year begins on April 6 and ends on April 5 the following year.
Tender offer
Method of raising capital by inviting investors to make bids for the price they are willing to pay for the shares.
Term insurance
A life insurance policy set up for a specified number of years. If you survive the term of the policy then you do not receive anything. This type of policy is often used to cover long term loans or mortgages. It is the simplest and cheapest form of life insurance.
Tied agent
A tied agent is a financial salesman who can only offer to sell the products of one company, rather than looking at the whole market for products that best suit you.
Total return
The total return on an investment is the combination of both the income return and any capital gain or loss.
Tracker fund
Investment funds that invest in a share portfolio weighted according to the market capitalisation of the various shares in that index, e.g., the FTSE 100. They buy and sell shares according to changes in relative market capitalisation of the companies. These tracker funds thus try to "track" the market rather than beat it.
Transfer value
The value of the pension benefits that you are allowed to take if you decide to leave an occupational pension scheme. The precise value of these benefits will be calcuated by an actuary who works for the pension scheme administrator.
Trustee
An individual or organisation who/that looks after assets for the benefit of another.
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