Based on the information you provide during your application First Trust Finance will be able to provide you with an Accept In Principle within 60 minutes. This means that we will be able to tell you whether or not we will be able to arrange a loan for you.

The Terms & Conditions you agree and sign.

Annual Percentage Rate. Provides an indication of the total cost of your loan and the total charge for credit. The method of calculating the APR is set out in the Consumer Credit Act and the regulations under the CCA. All lenders have to use the same method.

If you are self employed you may require an accountant who will produce audited accounts for you on an annual basis. We may request a set of accounts (up to 3 years) as proof of income during the course of your application.

Automated Valuation Model. This is an online estimate of the value of your property.

This refers to the amount of disposable income you have on a monthly basis.

CCJ stands for County Court Judgment. You would receive a CCJ when a court has ordered you to pay a debt.

You will enter into a "Consideration Period" if your loan is below £25,000 and once you have agreed your loan requirements with your Customer Account Manager. During the Consideration Period, which lasts for 16 days, First Trust Finance are unable to contact you in anyway to discuss your loan. You are able to contact us to discuss your loan agreement at any point during this period.

Once you have applied for a loan with First Trust FInance you will be contacted by your personal Customer Account Manager who will go through the full loan process with you and who will be contactable at any point of the loan process to provide any help or guidance you may require.

A Debt Consolidation Loan is when you replace your existing loans and credit debts with one single loan. By doing this you can reduce your monthly outgoings and usually pay less each month. Reductions in monthly repayments are usually obtained by having your loan over a longer repayment period.

An agreement would go into a default situation when you have missed over 6 monthly repayments consecutively.

This is where a full inspection valuation is not needed and we instruct a surveyor to drive past your property and estimate the value.

This refers to the value of your property over and above any secured loan or mortgage on your property. This is the amount of money you would receive if you sold your house after you had repaid your mortgage and any secured loans.

This is your main mortgage. A lender with first charge over a property has a first call on any funds available from the sale of the property.

This is where one of our Reps visits you at your convenience to complete the documentation in the comfort of your own home

This is a loan application made by more than one applicant, for example Husband and Wife.

This is the company that provides the finance for your loan.

This refers to the amount you would like to borrow and the length of time you would like to repay your loan. Your Customer Account Manager will go through how much you can borrow based on your Income and Expenditure review and then find the best quote to suit your needs. The quotation will itemise the costs, fees etc that you will incur by taking out your loan.

This is the amount you want to borrow against the actual value of your property.

This is a loan used to purchase a home or to pay for your existing home, where the property is used as security for the lender.

You are in negative equity if your property is worth less than what you owe to your lender.

Other income is any income that you may have in addition to your basic annual salary such as Child Benefits, Maintenance Payments, Child Tax Credits, Pensions.

This is insurance which can be purchased to cover you if you are unable to make your monthly repayments due to an Accident, Sickness, Unemployment or in the event of a Critical Illness or Death.

Lenders may wish to see evidence of payments that are made to you on a regular basis, such as bank statements, payslips or your P60. If you are self employed Audited Accounts or business bank statements could be requested.

In order to be eligible for a First Trust Finance loan you must fit standard criteria. You must be over 23 years of age, be a permanent resident of the UK, be a homeowner with a mortgage and be in receipt of a regular income.

This is the timing and amounts of your monthly loan repayments.

Also referred to as a Homeowner Loan. This is a loan specifically for Homeowners who can use the equity in their home to obtain a loan secured against their property.

This is the percentage of your property that a local housing authority can own.

This is the total amount repayable to the lender over the lifetime of a loan, including all interest, fees and other associated charges.

The typical APR enables you to compare rates offered by other lenders that also offer Homeowner Loans. It is the Annual Percentage Rate at or below, which we expect that credit will be supplied to at least 66% of all customers that take out a loan with us, as a result of an advert we have produced.

Loans over £25,000 which are not regulated by any Acts or Associations.