Farming Limitation (also known as an agricultural Tie) This is a term used to describe a condition imposed by a Planning Authority when granting planning consent for the building of usually a dwelling. Usually the application payday loans Missouri is for an agricultural worker’s dwelling. A typical wording might be “the occupation of the dwelling shall be limited to a person solely or mainly employed or last employed in the locality in agriculture as defined in section 290(i) of the Town and Country Planning Act 1971, or in forestry, or a widow or widower of such a person (including and dependents of such a person, residing with them).” The effect of such a restriction is to limit the number of persons who are entitled to occupy the property and therefore this limits the market to which the property may be sold. See our article on this subject. (note for Hento – possible Link)
Arrears Where a payment due in respect of any form of credit is missed these are arrears. However, with most of the lenders we deal with the only missed payments taken into account and which will affect the terms offered will be arrears on any other mortgages or secured loans. The only exception to this is where an applicant currently lives in a rented property where arrears of rent will also have an impact on the terms offered. Where you think you are about to miss any payment it is important that you contact the lender just as soon as possible. There is no substitute for talking to your creditors if you cannot meet a payment.
Eg, the fresh Annual percentage rate having a lender battery charging need for advance would-be more than a loan provider battery charging interest in arrears
Annual percentage rate (APR) The yardstick by which you can compare the cost of one finance deal with another. This is the true cost of borrowing, in percentage terms and takes into account the cost of obtaining the credit. It is usually higher than the charging rate of interest because it takes into account the total cost of your borrowing over the full term of the loan. See also Interest Rate
It is best to bear in mind that the way in which a lender charge its interest has an impact on that it
Investment Fund This is finance used for the purchase or lease of plant and equipment, machinery or vehicles. Other names for this are Lease purchase finance, Hire purchase, or leasing. With most purchase type agreements, the credit provider will retain ownership of the goods until and option to purchase fee has been paid at the end of any agreement, though the Consumer Credit Agreement 1974 affords certain rights to those agreements where the credit involved is ?25,000 or less. There are two types of lease arrangements one being an Operating lease and a Finance lease. One important term is sale and lease back which is where an asset is sold to a credit provider and then leased back to the previous owner.
Balance Sheet This will be a document that shows the state of activities regarding a business any kind of time provided part of energy though always in the year-end. The original part listing the businesses assets. Fixed Possessions would be often concrete or intangible assets. Real Fixed Assets was real things like structures, property, bush, equipments devices and vehicle. Intangible Fixed Property commonly real some thing but are things that keeps an esteem in order to a corporate like goodwill or brand name labels. Intangible Fixed Possessions usually are discover simply on Equilibrium Sheet sets away from large people and you will the spot where the product could have been purchased. For example, when Nestles purchased Rowntrees, which was a reputable brand that has been planning to has actually come taken care of included in the speed covered the fresh new entire organization and therefore may have been accepted as a keen Intangible Repaired House within the Nestles Harmony Piece.