Glossary > The Letter T

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The Letter T
Saber Finance know the finance world is full of terms, phrases, buzz words and jargon.

On this page we explain,
Tenant Loan > Term > Tied Agents > Title Deeds > Tracker Rate Mortgage > Travel Insurance > Trustee

Tenant Loan
A tenant loan or "unsecured loan" is personal finance which is borrowed and then repaid over a set term. The tenant loan is not secured upon any property making it suitable for visitors who do not own a property. People who are suitable for applying for tenant loans include people living at home, council tenants or private property renters.
For more information try our tenant loans section.

Comparing Tenant Loans
The tenant loans term is the period of time over which the finance is taken out and then repaid. Many tenant loans come established with set term periods, with higher monthly repayments for shorter terms and lower repayments for longer terms.
The repayments on a tenant loan are calculated using several different criteria and factors. Along with the amount lent the lenders charge interest on the loan, this is shown as the loans APR. With the capital and the APR, lenders also charge administration fees and arrangement charges.
Taking in all the fees, charges and with the credit rating of the borrower, the lender calculates the overall cost of the tenant loan then divides this by the loans term. This is then presented to the borrower as the monthly repayment amount.
If you want a loan but don't own your home, try the tenant loan best sellers.

Term
The term is the period of time over which finance borrowed is to be repaid. Many finance products come established with pre-set terms already arranged however other lengths of terms may be available subject to the applicants individual circumstances and with the consent of the lender.

Tied Agents
Tied agents are advisers or sales people who sell products from a single company or product pool. They do not offer products from other companies than those of their employer.
Independents are agents that are not attached to a specific finance product or provider, and have a larger product pool to compare between. Independent as well as tied agents are regulated by the Financial Services Authority. If an adviser is not, they are trading illegally.
Use our finance tools and save yourself hours searching the internet for cheaper finance.

Title Deeds
A title deed is a legal document which show who officially owns a property. The title deed will show the boundary of the property, always ask your solicitor or conveyancer for a copy of your boundary plan. This can then be used to settle disputes and clearly outlines the area owned. Deeds and other legal documents prove the ownership of freehold or leasehold property. You will usually find that they include every deed transferring ownership of the property over many years.

Tracker Rate Mortgage
A tracker rate mortgage follow the movements in the base interest rate. A tracker's rate is tied to it and so always follows it precisely. With the mortgage lenders rate on top customers can expect a rate one or two per cent above the base rate, subject to the mortgage contract or agreement.
With a tracker rate mortgage the mortgage contract or agreement decides the rate changes and by how much it changes, usually rates increase in line with any rise and decrease in line with any cut in the base interest rate.
If you are after property information, we have a mortgage section.

Travel Insurance
Travel insurance is insurance cover for people who are vacationing or working abroad. Travel insurance is also one of the most easy insurances to justify, if vacationing or working in foreign climes and beset by some difficulty how are the costs of unexpected travel, medical costs, etc, going to be paid?
Travel insurance removes the financial worry from these situations leaving you free to deal with the situation. Most insurance companies provide online systems that let you buy their travel insurance online. Cover can be arranged within a matter of minutes and certificates can be printed from the PC, providing instant holiday insurance.
Looking for travel insurance? Use the insurance best buys, just change the type to travel.

Trustee
A trustee is a person who has legal ownership of a property but is actually holding it for the benefit of someone else, the someone else is called the beneficiary.
Being a trustee carries a significant legal responsibility, meaning you have promised to hold and administer something completely for the benefit of somebody else.

If you are in any doubt about any financial product or term we recommend that you seek advice from a financial advisor.

If you're after Finance Information, Saber Finance is here to help.