The Glossary
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Z
The
Letter Z
This
section provides information on terms and phrases beginning with
the letter Z
At the grabber we know finance is full of
confusing terms and phrases, and so on this page we explain:
Zero % Interest
Zero percent interest or a product offering 0% interest is a way
to attract new customers to take up lenders products, like cash
back offers. It could even be used to encourage existing
customers to switch to using the new deals.
Zero percent interest products are suitable for when making a
purchase and spreading the cost over several months interest
free. It is possible to save many pounds in interest if making
the purchase with the zero percent product.
The zero percent rate generally lasts for up to 12 months, but
is dependant on individual products, and then the interest rate
reverts to the products standard rate.
Any mortgage or loan offer claiming 0% interest should be read
very carefully. They will contain clauses like 'only if you stay
with us for 3 years' by which time your interest rate would have
jumped to 15%. These will also contain very expensive redemption
penalties for any attempted shift to a new lender. The Grabber
lets the independent financial advisors find the best rate for
your requirements. Not offer you the impossible.
To
complete one of our online application forms visit our
application form pages.
Got a piece of jargon you want explaining, it's time to let The Grabber loose.
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