Understand the language of money.

AER, or Annual Equivalent Rate, shows what the annual interest rate on a savings account would be when the effect of compounding is included. It helps consumers compare savings products.

APR is used to express the annual cost of borrowing. Depending on the product, it can take interest and certain charges into account and can help with comparing credit products.

An asset is something that has economic value. Depending on the context, assets can include cash, investments, property and other valuable resources.

Bank Rate is the Bank of England's key interest rate. Changes can influence borrowing and savings rates offered by financial institutions.

Buy-to-let generally describes property purchased with the intention of letting it to tenants. Costs, tax, financing and landlord responsibilities can all affect the financial position.

Capital Gains Tax may apply when certain assets are disposed of and a taxable gain is made. The amount payable depends on the asset, gain, allowances and individual circumstances.

Compound interest occurs when interest earned is added to the balance and can subsequently earn further interest. The effect depends on the rate, balance and frequency of compounding.

A dividend is a payment a company may make to its shareholders. Dividend payments are not guaranteed and can change depending on the company's circumstances.

A property deposit is the amount a buyer contributes towards a purchase price. A mortgage may finance part of the remaining amount, subject to the lender's criteria.

Property equity is broadly the value of a property minus outstanding mortgage debt secured against it. Equity can change as the property value or mortgage balance changes.

An emergency fund is money kept aside for unexpected expenses or income disruption. The appropriate amount varies according to personal circumstances and essential living costs.

A fixed interest rate remains unchanged for an agreed period. Fixed-rate mortgage products can provide more predictable payments during that period, although product fees and early repayment conditions may apply.

An ISA is a UK tax-efficient wrapper for eligible savings and investments. Types include Cash ISAs, Stocks and Shares ISAs, Innovative Finance ISAs and Lifetime ISAs.

Loan-to-value, or LTV, compares the amount borrowed with the value of the property. It is commonly used when discussing mortgages and property finance.

A mortgage is a loan commonly used to buy property. The property is normally used as security for the loan. Mortgage products differ in rates, fees, terms and eligibility requirements.

A pension is a long-term arrangement designed to help provide benefits or income in retirement. UK pensions include workplace and personal arrangements.

An insurance premium is the amount paid to an insurer for a policy. Premiums can vary according to the cover selected, risk factors, policy terms and the insurer.

Investment return describes the gain or loss generated by an investment over a period. It can include changes in value and income such as dividends or interest.

Shares represent units of ownership in a company. Shareholders can potentially benefit from changes in share prices and dividends, but investments can also fall in value.

A tracker mortgage normally follows a specified reference rate, often with a stated margin. Because the underlying rate can change, payments can change too.

A voluntary excess is an amount the policyholder agrees to contribute towards an eligible insurance claim, in addition to any compulsory excess where applicable.

Yield generally describes income generated by an investment relative to its value or price. The exact calculation depends on the type of investment.