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- Underwriting - |
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Underwriting is the process of assessing the risk of a loan applicant and then deciding upon the interest rate, charges and other terms and conditions. This process will be assisted by the applicant's credit history, current employment, the amount he wishes to borrow, what the money is for and other such factors. Underwriters can recommend a rejection of the loan application if the statistics are excessive, they can adjust the advertised rates and make an offer, or they can accept the application as it is. Underwriting also takes place in insurance and payment protection arrangements, so is an integral part of the loan industry.
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Use our layman jargon buster to decipher other key industry terminology.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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| Think carefully before securing other debts against your home. Your home may be reposessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home. |
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Licensed credit broker authorised by the Office of Fair Trading. Registered members of CFB, FISA, FSA, Data Protection Act 1984 |
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© 2007 LoanLine - Underwriting |
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