Financial terms beginning with L
7 terms in our plain-English finance glossary starting with the letter L.
- Lasting Power of Attorney — LPA
A legal document letting someone you trust manage your affairs if you cannot.
- Leasehold
Owning the right to live in a property for a fixed term, while a freeholder owns the land.
- Liability
Cover for compensation if you are legally responsible for injury or damage.
- Lifetime ISA — LISA
A tax-free ISA for a first home or retirement, with a 25% government bonus on your savings.
- Loan to Value — LTV
The size of your mortgage as a percentage of the property’s value.
- Logbook Loan
A high-cost loan secured on your car, which the lender can seize if you default.
- Loss Adjuster
An expert who investigates larger insurance claims for the insurer.
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