F

Family law

This is the area of law governing family relations, including matters concerning children, marriage, divorce and domestic violence.

Family law (divorce) solicitors

A family law solicitor tries to help you protect your rights on divorce and make sure you get the correct entitlement from a final divorce settlement. They’re sometimes known simply as ‘divorce solicitors’.

Fees

Fees are one of the ways you can pay your adviser for their advice and services. They’re usually fixed and agreed before the financial or legal advice and service is provided.

Final salary schemes

A final salary pension scheme is another description of a defined benefit scheme.

Financial and investment services

These are the services, often offered by solicitors and independent financial advisers, relating to investment of a client’s assets, such as following a divorce settlement or a grant of probate.

Financial Ombudsman Service

The Financial Ombudsman Service has been set up by law to help settle individual disputes between consumers and financial firms. It gives consumers a free, independent service to help resolve disputes, but you usually have to have first taken your complaint to the financial firm yourself before the Ombudsman can step in.

Fixed interest security

This is another name for a ‘bond’. The amount of interest you receive, when you invest in a fixed interest security, is stated at the time of purchase. These are usually regarded as a lower risk investment than stocks or shares.

Fixed rate

An interest rate that’s fixed is one that doesn't move up or down for a set period of time.

Fixed rate mortgage

Some mortgage lenders will offer a period of time, normally 2 to 5 years, during which the interest rate is fixed. After this time, it will revert to the Standard Variable Mortgage Rate (often referred to as SVR). Fixed rate mortgages can make budgeting for mortgage payments easier for borrowers in the first years.

Fraud

This is a term that’s used to describe various dishonest acts included in the Theft Acts of 1968 and 1978.

Free-Standing Additional Voluntary Contributions (FSAVCs)

This is a pension top-up policy for an occupational pension scheme, but it’s run alongside your employer’s pension scheme - usually by a pension company.

FSA

The Financial Services Authority (the FSA) is the UK's financial services regulator.

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