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FINDEF018 Demystifying loan jargon (579 words)
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Description
This article explains some of the most commonly used loan and banking terms. Although many clients may seek advice from a broker or their bank before taking out a loan, having a basic understanding of these terms will ensure increased confidence before signing on the dotted line.
Introduction
Planning to apply for a loan but confused by the myriad of banking jargon? You're not alone. Many people struggle to understand loan terms and the multitude of acronyms used by bankers and mortgage brokers.
Although you may seek advice from your local bank or mortgage broker, having a basic understanding of these terms will ensure increased confidence before signing on the dotted line.
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