Side Bar Image
Lidierth Financial helped me get my dream home

JARGON BUSTER

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


Consumer Credit Act (CCA)

The Act which defines how personal loans may be advertised, and what rules need to be followed by loan providers in the presentation of loan features such as the interest rate and typical APR that are applicable. The Act also covers the information that needs to be available to the consumer such as product terms and conditions.

Capital

Also known as the Principal – the original amount of money borrowed on which interest is calculated.

Capital Gains Tax

CGT in general is tax placed on any increase on the value of an asset from the time you bought until the time you sold it. A gain on the disposal of a principal private residence including grounds of up to one acre is exempt, provided the house had been occupied by the individual as his/her only or main residence during the individual’s period of ownership.

Closing Centre

A locally based Solicitor appointed by First American who will witness your Legal Documents (applicable for Remortgage Only or Switcher Mortgage)

Collateral

Your home, property or some other asset used as security for a loan.

Completion

This is when all legal transactions have taken place and the ownership of the property is legally passed to the buyer.

Contents Insurance

Cover for the contents in a home, which can include cover against loss or damage of some personal possessions outside the home.

Conveyancing

The legal work involved in buying or selling a property.

Cost per Thousand

This is the cost of mortgage repayments for each thousand euro borrowed. It is generally expressed in monthly terms. It is calculated based on the bank’s standard interest rate and the term of the mortgage.

Credit Search

A check the lender makes with a specialist company, such as the Irish Credit Bureau, to find out whether you have a record of not paying loans, credit card bills etc.


WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY LOANS SECURED ON IT.