The borrower is responsible for providing the funds for the downpayment. Employee: An Appointee who has actively begun to serve in his or her full-time position. Equity: The difference between the fair market value of a property and the current indebtedness secured on the property. Escrow: A situation in which a third party, acting as the agent for the buyer and the seller, carries out the instructions of both and assumes the responsibilities of handling all the paperwork and disbursement of funds at settlement or at closing.
Escrow Holdback : Funds retained by the escrow company after the close of escrow until repairs andor required termite work has been completed. Evidence do personal loans need collateral Insurance : Written documentation from a hazard insurance company that a homeowners policy is in existence on a property.
Typically, this is NOT an insurance policy, but a commitment from the insurance company to provide a policy for a specific property at a specific time and premium amount.
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They considered the promotion was a reward for good borrower behaviour in the case that a consumer chose to take out a loan, rather than an incentive do personal loans need collateral apply for credit. They said, however, that if the promotion was considered to be an incentive to apply for credit they considered that the ad would nevertheless comply with the Regulations and the BCAP Code because the RAPR was more prominent than the trigger for its inclusion (in this case, the incentive).
They said the RAPR was shown in a larger font size than the text "£5 Cashback for every £100 borrowed" and appeared for over a second longer. The Money Shop also commented that the RAPR was shown during the most interactive and memorable part of the ad, where the main dog character caught a bone that was thrown towards do personal loans need collateral and then followed the cursor icon towards the bottom of the screen, where the RAPR was located.
Clearcast said they had received a legal assurance from the Money Shop, through the advertising agency, which stated that the ad complied with the relevant legislation.
They had therefore been confident that the APR stated in the ad was sufficiently prominent.