Banking & Money Terms with "L"

Glossary of Banking & Money - Glossario Bancario & Monetario

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Lease: when structured as an operating lease, this is a form of financing that avoids the down payment usually required for the purchase of equipment.

Legal Tender: legal tender varies by country – it is the money recognised in that country as valid payment to buy goods and services. In the UK, the legal tender is Pound Sterling.

Lending Charge: a higher lending charge is a fee charged by a mortgage lender where the amount borrowed exceeds a given percentage of the property value.

Longterm Credit: longterm credit helps you buy bigger items now instead of having to save up, for example a loan to buy a car. They are usually lower cost than short term borrowing.