FAQ - Glossary


The APR is the annual percentage rate which describes the interest rate as a yearly rate. The APR you are offered will vary depending on your personal financial circumstances and the loan provider. The interest rate is essentially the cost of borrowing the money.


Brokers introduce borrowers to lenders and help streamline the process of getting a loan. Brokers do not lend money or offer financial advice or recommendations.

Bad credit

Bad credit is a term used to describe a credit rating which shows a history of missed payments and potentially defaults and County Court Judgements. Bad credit may also be referred to as adverse credit, poor credit or impaired credit.

Credit File

A credit file is a report that details your credit history. It will contain information about your past and present borrowing as well as personal details to identify you, for example your address.

Credit search

After submitting your application, lenders may conduct a review of your credit file to support their decisioning on whether to issue a loan.


A guarantor is a person you know who agrees to repay the loan should you default on the agreed repayments.


The lender is the entity that is issuing the loan over a predetermined period of time. The borrower/customer, under the terms of the lending agreement, is required to repay the loan and any interest in line with the repayment schedule.


The loan is the sum of money given to the borrower which should be paid back with interest.

Loan Purpose

The loan purpose is the reason why the borrower requires money, for example to fund a car purchase

Loan Term

The loan term is the duration over which money is borrowed from the lender and which repayments are due

Unsecured Loan

A loan that is supported solely by the borrower's creditworthiness, it is not secured against an asset