9 terms starting with H
A hard asset is a tangible, physical item with intrinsic value, such as a truck or a machine, that lenders can inspect, value and take as security.
Read definitionFinancial hardship is when a change in your circumstances, such as job loss or illness, means you cannot meet your loan, credit or bill repayments on time.
Read definitionHigh net worth (HNW) is an industry label for individuals whose investable assets, net of liabilities, exceed provider thresholds that often overlap with the wholesale client tests.
Read definitionHigh value leasing is the leasing of assets, most often prestige vehicles, priced well above typical fleet or consumer levels, which raises residual risk, tax exposure and credit requirements.
Read definitionHigher deposit requirements for visa holders are lender rules that ask temporary residents for more cash upfront than citizens, capping the loan-to-value ratio.
Read definitionHire is a contract under which an owner or supplier lets a hirer use goods for an agreed period in exchange for payment, while title stays with the owner.
Read definitionHire purchase is a finance agreement where a financier buys an asset and hires it to you for fixed instalments, with ownership passing to you at the final payment.
Read definitionA home loan is a secured loan used to buy property or fund major home projects, with the lender taking a mortgage over the property as security.
Read definitionAn HPI check is a vehicle history and finance check that shows whether a used car has outstanding finance registered against it, or a stolen or written-off record.
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