Glossary > The Letter U

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

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

On this page we explain,
Umbrella Insurance > Underpayments > Unit-Holding > Unsecured Loan > Utilities

Umbrella Insurance
Umbrella insurance is when customers place their collective insurance needs under the care of a single insurer or insurance provider. While this umbrella insurance style is easy to manage it will never be the most cost effective way of arranging insurance cover.
Individual insurers offer deals on particular insurance policies but never offer them on all their policies. So surfing around to find value deals on your insurance would save you money but take longer to arrange. If ease and speed is of more importance to you, using an insurer to provide this umbrella style of cover would suit your needs.
Looking for insurance quotes to beat your current policy, the insurance tools should cut down the time you spend comparing insurers.

Underpayments
Underpayments are a benefit of a financial product with which the holder is able to pay less than the normal payment charge. Such as with credit cards, paying below than the required monthly repayment and with flexible mortgages. This means that borrowers can take a break from their loan or mortgage when under financial difficulties, or when wanting to purchase that expensive item that may leave them short of funds. When the emergency as passed the borrower can then proceed with their repayments with out incurring penalties.
Some if not most lenders will require that an overpayment is made before an underpayment or a payment holiday would be acceptable.

Unit-Holding
Unit holding is ownership of a property within a common hold, such as a block of flats. Common-hold is a fairly new way of owning properties and is an alternative to long leasehold ownership of shared property.
In a block of flats each flat is considered a unit, and each one of these units can be owned individually. The shared areas are then managed by a common hold association, which only the unit-holders may be members. The management and upkeep of the shared areas is usually financed by an apportionment between the unit-holders.
Looking for finance to buy your flat under right to buy, the mortgage tools can help you find mortgage lenders to compare between.

Unsecured Loan
Unsecured loans or tenant loans, are finance for people who rent property whether they be council tenants or housing association tenants or for people who live with their parents or friends. They do not have a home to offer as security on the loan so unsecured loans come with higher rates than secured loans.
This means you pay more in interest but means the lender takes more of a risk. Remember, if you default on the unsecured loan you risk legal proceedings.
If you need finance and have decided a unsecured loan will meet your requirements, spend a little time browsing lenders looking at their packages, the rates charged and their terms. Take the best unsecured loan for you, that's the one that meets your budget and has the flexibility with repayments you require, and apply for it. Hopefully your application is accepted and the cash rapidly dispatched.
If you don't own your home and are searching for a unsecured loan, our loan tools will save you time.

Utilities
Utilities are services provided by companies, which then charge us based on how much we use them. Gas, electricity and phone lines are quick simple examples of utilities provided to the home.
It is a fact of life that these companies rely on us being lazy, once an incentive has run its term, we remain with them because it is to much hassle to switch to another provider with better rates. There are many types of utilities and there are real savings to be made by switching to providers offering deals on their rates.
It is easy to rearrange your utilities yourself, you don't have to pay a company to do it for you. Why be charged for doing something you can do yourself?

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.