Financial terms beginning with S

An account for setting money aside that earns interest and is FSCS-protected.

A law making your credit card provider jointly liable with the seller on purchases over £100.

Borrowing backed by an asset such as your home, which is at risk if you do not repay.

A charge leaseholders pay towards maintaining a building’s shared parts and services.

Buying a share of a home and paying rent on the rest, with the option to buy more later.

Individual units of ownership in a company that you can buy and sell.

A do-it-yourself personal pension where you choose the investments.

A light credit check that only you can see and that never affects your credit score.

The six-digit number that identifies your bank and branch for payments.

A lender’s default mortgage rate, which you fall onto when a deal ends — usually a pricey one.

A regular fixed payment you set up and control from your own account.

An old debt that can no longer be enforced through the courts because of time limits.

Ownership stakes in companies, bought and sold on the stock market.

The extra identity check required to confirm many online payments.

Your insurer stepping into your shoes to recover a paid claim from the party at fault.

The maximum amount an insurer will pay out under your policy.