Tracker Mortgage Financial Glossary

What is it? Tracks movements in the Bank of England base rate so that you benefit quickly from a fall in interest rates.

Finance Term Definition Added By: Charlie

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Other Similar Finance Terms:

Financial Term Collateral is The underlying security, mortgage, or asset pledged or held in trust for the purpose of securitization or borrowing and lending activities.

Financial Term Credit is A dollar amount that appears on the right-hand side of an account ledger. Use a credit to record a decrease in an asset or an increase in a liability or in owners equity.

Financial Term Total Debt Ratio is Total monthly debt plus housing payments divided by your gross monthly income. Also known as Obligations-to-Income Ratio or Back-End Ratio.

Financial Term Discount Rate is A certain interest rate that is used to bring a series of future cash flows to their present value in order to state them in current, or todays, dollars. Use of a discount rate removes the time value of money from future cash flows.

Financial Term Accruing Interest (on a loan) is The cost of the loan, represented by the interest rate, is adding up prior to the repayment period or prior to a payment installment.