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General
conditions
A set of standard conditions that apply to a mortgage, provided to the
borrower in booklet at the time that a mortgage is offered.
General insurance
Insurance of goods. Insurance companies identify different types of insurance
policy as falling into different branches. For instance the insurance
of property (not business) is known as personal lines. The Life branch
covers the insurance of people and is known as life assurance.
Guaranteed earned income
An income received on top of your basic salary i.e. bonus / overtime that
is not part of your normal basic pay under the terms and conditions of
your employment but which you are guaranteed to receive.
Guarantor
Person(s) who agrees to guarantee that a loan will be paid.
A guarantor is fully liable for the repayment of the borrowed amount should
the borrower default in anyway.
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