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Credit Period in United Kingdom

Credit period in the Context of Mortgages

The time frame for which the lender agrees to provide you with credit.

Similar Terms

Credit

Credit

A measurement of a person’s ability to pay bills on time. Several companies track individuals’ credit histories by detailing late or missed payments on loans, credit cards and other debts.

Credit agencies

Credit agencies

Companies such as Equifax or Experian that are often used by lenders to assess your financial background and determine the level of risk involved with lending you money.

Credit averse

Credit averse

When a borrower has a poor credit history, has previously been declared bankrupt or has outstanding County Court Judgements, they are often described as credit averse. People with averse credit ratings often have to pay higher interest rates on a mortgage.

Resources

See Also

Credit checks

Credit history

Credit rating

Credit reference agency

Credit union

Creditor



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(2017, 03). Credit Period lawi.org.uk Retrieved 06, 2021, from https://lawi.org.uk/credit-period/

03 2017. 06 2021 <https://lawi.org.uk/credit-period/>

"Credit Period" lawi.org.uk. lawi.org.uk, 03 2017. Web. 06 2021. <https://lawi.org.uk/credit-period/>

"Credit Period" lawi.org.uk. 03, 2017. Accesed 06 2021. https://lawi.org.uk/credit-period/

J. G. Collier, 'Credit Period' (lawi.org.uk 2017) <https://lawi.org.uk/credit-period/> accesed 2021 June 12

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Schema Summary

  • Article Name: Credit Period
  • Author: J. G. Collier
  • Description: Credit period in the Context of Mortgages The time frame for which the lender agrees to provide you with credit. Similar [...]

This entry was last updated: March 29, 2017

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