Business / Debt Glossary

Maximizing Income: Increasing the amount of income you earn.

Money Adviser: Someone who is trained to offer advice both on debt and on increasing your income. A money adviser can help you work out what your options are and, where needed, negotiate affordable payment . . . View Full Definition

Money Broker: A type of agent who arranges short term loans between banks (which are seeking to lend money) and borrowers such as institutions. The money broker is not involved in the process of lending/b . . . View Full Definition

Mortgage: A loan in which the borrower (the mortgagor) offers a property and land as security to the lender (the mortgagee) until the loan is repaid. Repayments of the loan are usually made on a month . . . View Full Definition

Mortgage Broker: A person or company engaged in the arrangement of mortgages for buyers. The broker is usually paid a commission by the lender.

Mortgage Protection: Term assurance to cover the repayment of a mortgage in the event of the death of the mortgagor during the period of the loan.In the case of a repayment mortgage the capital sum outstanding i . . . View Full Definition

National Debt: The total debt accumulated by a government through the issue of government bonds, Treasury bills and Treasury notes. The government has to pay interest on its borrowings, and this obligation . . . View Full Definition

National Insurance: A form of taxation, payable by employees, employers and the self employed, which is notionally to fund state benefits including pensions, sickness, unemployment and maternity. It is part of . . . View Full Definition

Negative Equity: A situation where the purchaser of a property has taken out a mortgage and some time after the purchase, the value of the property falls below the mortgage amount.

Negotiable: The ability to be sold or transferred to another party as a form of payment. Something which is negotiable is transferable by endorsement and delivery. A negotiable instrument could be a che . . . View Full Definition

Net Assets: Total assets minus total liabilities of an individual or company.

Net Income: Net profit attributable to ordinary shareholders after the deduction of all other charges.

Net-After Deductions: An amount of money e.g. income you take home after income tax, national insurance contributions, payments towards a pension scheme or any other deductions have been deducted, usually by your . . . View Full Definition

Nominee: The person, bank or brokerage in whose name securities are transferred.

Notarization: The certification by a Notary Public that a person signing a document has been properly identified. Notarization does not certify the content of a document, only validity of signature.

Notary Public: A person authorized to notarize certain documents.

Obligation Bond: Mortgage bond whose face value exceeds the value of the underlying property, and for which a personal obligation is created to compensate the lender for any costs that may exceed the value o . . . View Full Definition

Ombudsman: Ombudsmen do not have any formal power to reverse decisions but they have substantial moral authority over companies or national or local government agencies. Within financial services, ther . . . View Full Definition

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