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This page provides a description of the UK credit terminology that often confuses the borrower.
Video UK mortgage terminology
Introduction
The UK mortgage market is one of the most innovative and competitive in the world. Most loans are funded by a joint organization (community building and credit union) or a specialized lender (usually a bank). For several years the market operated with minimal state intervention, although this changed at least temporarily after the Northern Rock nationalization of 2008 (one of the largest mortgage banks in the country).
Source of the article : Wikipedia
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