• Home
  • Apply Online
  • Financial Glossary
    • Financial Glossary : A - C
    • Financial Glossary : D - F
    • Financial Glossary : G - J
    • Financial Glossary : K - Z
  • Links
  • Loan Calculators
    • Bond Affordability Calculator
    • Car Payment Calculator
    • Extra Payments
    • Mortgage Payment

Welcome to Loanfinder's Financial Glossary where we simplify complex financial jargon and present it it in plain simple English. If you can't find any terminology on these pages or don't understand our current explanation we will be happy to udate our listing and provide you with answers.

Recent Posts

    • How To Finance Your Home?
    • Introduction To The National Credit Act
    • How Much Mortgage Loan Do You Qualify For?
    • Mortgage Loans
    • Absa Bank - House Prices Still Weak
  • Financial Glossary : D - F

    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

    D

    Debit order

    A debit order is an authority to a bank, to deduct payments on a regular periodic basis from the client’s bank account in terms of a credit agreement signed. This is a convenient way to pay for monthly mortgage payments , vehicle payments and insurance premiums.

    Debt Consolidation

    Is the process whereby a borrower combines various debt obligations into one single debt , usually at a lower interest rate.

    Default

    A loan is in default when the borrower fails to pay several regular instalments on time (i.e., payments overdue by 180 days) or otherwise fails to meet the terms and conditions of the loan.

    Deeds Office

    The Deeds Office is a government department responsible for the registration and transfer of immovable property.

    Deeds Office Fees

    These fees are charged by the Deeds Office for registering the mortgage bond and title deed.

    Deposit

    This is the amount the customer has available to put towards the purchase of the property as a guarantee.

    Disclosure statement

    Provides the borrower with information about the actual cost of the loan, including the interest rate, origination, insurance, loan fees and any other types of finance charges. Lenders are required to provide the borrower with a disclosure statement before issuing a loan.

    Domiclium Citandi et Executandi

    This is a physical address where the delivery of legal notice will be accepted by a party to a written agreement.

    E

    Electrical Compliance Certificate

    This certificate is issued by an electrician and registered with the local authority to verify that the electrical installation of the property complies with local by-laws. The seller is responsible for ensuring that an Electrical Compliance Certificate is obtained before a property is transferred to the buyers name.

    F

    FICA

    The Financial Intelligence Center Act requires that various institutions including banks , estate agents and financial advisors/insurance brokers are able to verify their clients identities and keep records of documents such as copies of identity documents and utility bills

    Finance Charges

    This is the interest charged on the loan.

    Fixed Interest Rate

    This is when your home loan interest rate is fixed for a specified period usually a maximum of two years.

    Final payment

    Final payment is the last payment made on your offset finance.

    Financial Services Board (FSB)

    Independent statutory institution that oversees and regulates the South African Non-Banking Financial Services Industry - FSB website.


    car of your dreams lending institutions mortgage originator balloon payment Credit Cards deeds office payments calculator installment sale agreement mortgage loan Insurance house prices risk mortgage loans reserve bank governor Tito Mboweni mortgage affordability insurance premiums mortgage lenders conveyancer south african economy paying off a mortgage repo rate mpc mortgage payment short term loan credit histories bank mortgage vehicle loans global recession Absa heart race mortgage term financing option national credit act mortgage bond overdue amounts SARB vehicle loan interest rate banks mortgage payment calculator consumer confidence beats per minute finance companies credit act financial glossary
    © 2010 Loanfinder | Powered by WordPress | BranfordMagazine theme by Michael Oeser. Based on Mimbo and Revolution
    Privacy | Sitemap | Legal