A loan where the amount borrowed is gradually repaid and monthly payments are divided into part interest and part capital. At the end of the loan term the whole amount borrowed will have been repaid.

A Charge is the legal right over property given to GE Money by a customer to secure payment of a mortgage or secured loan. It enables GE Money to repossess and sell the property to recover their money if the borrower does not keep up the repayments on the loan.

A County Court Judgement is an adverse ruling by a County Court against a person who has not satisfied debt payments with their creditors. GE Money may take legal action and seek a CCJ where a customer has not kept up the repayments on a loan.

A document that is given to customers to outline the service GE Money will provide, the regulation of the service, a summary of products, an overview of charges and company details. A CIDD is used for mortgages and insurance.

The Consumer Credit Act (1974) is consumer protection law that requires businesses that offer goods or services on credit or who lend money to consumers to be licensed by the Office of Fair Trading.

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The CML is a trade body representing banks, building societies and other mortgage lenders in the U.K. GE Money Home Lending is a member of the CML.

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An agency that gathers information about people’s credit history and status. This information provides GE Money with credit reports and credit scores on consumers, to help establish risks associated with lending money.

A Credit Agreement is the contract used to agree the terms and conditions of a loan regulated under the Consumer Credit Act.