Glossary
Welcome to our glossary section.
If you're looking for the definition of a particular finance term or phrase, you can look it up here in our loans glossary. If the term or phrase you're looking for isn't listed, please let us know and we'll make sure it gets included.
Hire Purchase
Also known as HP. The process allows a consumer to effectively rent a product (such as a car) over a set period of time. At the end of the agreed term product ownership is then that of the hirer.
