Glossary of terms


APR (Annual Percentage Rate)

The annual rate of charge for borrowing, expressed as a percentage that represents the yearly cost of the loan over chosen the term. This includes any fees or additional costs so is a simple way to compare the cost of credit products.


A cash loan or other type of borrowing which requires repayment at a later date. It often involves payment of interest.

Credit Bureaus / CRAs

A credit bureau or “credit reference agency” is an agency that collects individuals’ credit information (a person’s existing credit commitments and repayment behaviour) and makes it available to organisations including banks and lenders. The information is used to make a decision on granting loans.

Credit Footprint

Each time a lender searches your credit file, a record (footprint) is left. Searches include administrative enquiries, quote or application searches, and the type of footprint that's left depends on the type of search. When lenders look at your credit file, they can see any previous application searches. Lenders may use these searches to calculate your credit score. So, if you make multiple applications that leave a footprint, it may have a negative impact on your credit score; as a lot of credit applications in a short space of time can signal someone applying for more credit than they can afford. It could also be a sign of fraud.  Because we know you, we can give you a conditional decision using an administrative search, which leaves a footprint on your credit file that can only be viewed by you, and hence does not affect your credit score.


People who are financially dependent on you, such as your children, people in your care, or a spouse or partner who has no income of their own.


Charges applied that are in addition to interest accrued. We do not charge fees in relation to our personal loan agreements.

Household Income

The combined income of you and any partner or spouse with whom you live and share financial responsibilities.  This doesn’t include your parents, if you still live with them, or any housemates.

Interest Rate

The cost of borrowing money typically expressed as an annual percentage of the loan. It does not include the cost of any fees.

Loan Advance / Loan Amount

The amount of money you borrow. This is the amount before interest is added.

Monthly Expenses

The cost of things you have to pay for, every month. At aqua we ask for your share of the monthly expenses, not the total household expenditure.

Monthly Payment Amount

The amount you must pay every month under your loan agreement in order to pay back your initial loan amount plus interest by the end of your loan term.

Net Monthly Income

Your monthly income after tax and any deductions. Your income could be made up of your salary, pension, maintenance and other income such as rental income from another property you own.

Personal Loan

A loan that is not secured against any assets or property, also known as an unsecured loan.  The loan is offered to you based on your personal credit history and ability to repay it.

Personal Quote

A conditional offer of a loan based on your credit history and ability to afford the monthly payments for the life of the loan.  For our loans, the conditional offer is dependent only on a subsequent check of your bank account details.

Quick Quote

Approximately how much it might cost to pay back one of our loans over a selected term.  For existing card customers, the APR used to calculate the quick quote is the APR we believe we will be able to offer you based on what we already know about you and your repayment history. The quick quote calculator gives you an indication of what you may be able to borrow. For example, the calculator assumes your regular monthly payments would begin one month after the calculation, so the exact amounts in your personal quote may be different.

Representative APR

A representative APR is an APR that most people (at least 51%) are offered as a result of the advertisement in which the representative APR is shown.

Subject to Status

If you meet the minimum criteria for one of our loans, and we have invited you to apply, we’ll still need to look at your up-to-date personal circumstances, such as your employment, income and credit history, before we decide if we can approve the loan you apply for.

Total Amount Payable

The total amount that you will repay, including interest, assuming you make all your monthly payments in full and on time. The total repayment amount will change if you make early or late payments.