Jargon Buster
Acceptance fee
A fee charged by some lenders when they grant a mortgage. It's now rare to come across acceptance fees - most lending agencies in Ireland don't charge them. Typically the fee would be about 0.5% of the value of the loan.
Account contact
This is where your mobile telephone account has more than two mobiles. To simplify things, you nominate one account contact to manage the overall account.
Airtime
Refers to the available space on mobile phone networks for making calls. When making a call, you use airtime.
Annual percentage rate
The "true" annual cost of a loan - not just the interest charges but taking into account the other costs such as arrangement fees.
The APR is calculated as a percentage rate of the total cost of your loan. This APR figure must be shown on all advertisements for loans, to give consumers a clearer picture of what they can expect to repay and compare rates more easily.
Annuity mortgage
The most common form of mortgage. The capital that you borrowed and the interest you owe on it are paid off in monthly instalments.
A.P.R.
See Annual percentage rate above