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Credit Union in United Kingdom

Credit union in the Context of Mortgages

Nonprofit cooperative organizations that provide banking and financial services, including mortgages, home improvement loans and home equity loans, to their members.

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 period

Credit rating

Credit reference agency

Creditor



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(2017, 04). Credit Union lawi.org.uk Retrieved 10, 2021, from https://lawi.org.uk/credit-union/

04 2017. 10 2021 <https://lawi.org.uk/credit-union/>

"Credit Union" lawi.org.uk. lawi.org.uk, 04 2017. Web. 10 2021. <https://lawi.org.uk/credit-union/>

"Credit Union" lawi.org.uk. 04, 2017. Accesed 10 2021. https://lawi.org.uk/credit-union/

Anthony J. Bland, 'Credit Union' (lawi.org.uk 2017) <https://lawi.org.uk/credit-union/> accesed 2021 October 16

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Schema Summary

  • Article Name: Credit Union
  • Author: Anthony J. Bland
  • Description: Credit union in the Context of Mortgages Nonprofit cooperative organizations that provide banking and financial services, [...]

This entry was last updated: November 4, 2020

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Financial Law


Mortgages

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