Adverse/impaired credit
Adverse or impaired credit is a term used to describe a poor credit history on credit cards or loans. This is reflected in an individual’s credit rating.
AML checks
Anti-Money Laundering checks are an essential part of the Know Your Client procedure (KYC) which help prevent money laundering, identity theft and fraud. At Lendy, we take our AML checks and obligations very seriously to ensure our customers are always protected.
Annual Equivalent Rate
The Annual Equivalent Rate or AER shows what the interest rate on an account would be if interest was paid for a full year and compounded.
Annual Percentage Rate
The rate at which someone who borrows money is charged, calculated over a period of twelve months, i.e. The interest rate on my credit card is currently 22.5 percent APR.
Annualised Returns (Loan)
“Annualised Return” shows the net return per annum of each loan. For example, on the Lendy platform annualised returns typically range from 8% per annum up to 12%.
Appraisal
Appraisal is the professional valuation of a property.
Appreciation
Appreciation is the increasing value of an asset or security over time.
Arrears
If an account is in arrears it is seen to have overdue debt as a result of missed payments.
Asset Details
Asset Details are all the documents, for example, Valuation documents and Loan Particulars on a specific loan.
Asset-Backed Security (ABS)
An ABS is a security backed by receivables, a loan or a lease. These can be an alternative to investing in corporate debt.
Assets
An Asset can be classed as anything with a financial value that will provide a future benefit to the owner.
Assured Shorthold Tenancy
An Assured Shorthold Tenancy entitles the landlord to a possession order immediately after the initial agreed period, which is usually for six months. The landlord is therefore able to evict the tenant after the initial fixed term without a legal reason.
Available (Loan Amount)
Available Loan Amount shows the amount remaining to be invested in each loan.