Jargon buster

This is the score given to you depending on your personal credit history. So, if you've always kept up repayments on any form of credit you've had, you'll have a good credit rating.

There are companies that compile credit records on consumers and release the information to companies offering any form of credit. Most lenders will use such an agency during a loan or mortgage application.

This is a one-off charge that may be applied by a bank if you decide to pay off your loan early.

You'll find information about the Early Repayment Charge applicable to our personal loans in our Personal Banking Account fees.

A set rate of interest that cannot go up or down during the period of the loan.

This includes the capital amount borrowed plus the interest charged.