The term ‘funt’, or financially untouchable – used to describe a person who is finding it nearly impossible to be approved for credit – has been included in a dictionary expert’s new book, it has been reported.
It appears in Susie Dent’s Words of the Year book along with ‘stagflation’, an economic term used to describe stagnant growth and rising inflation, according to the Telegraph.
Funt is a term that was created by ClearDebt, which offers debt help to people in such circumstances.
Other phrases such as ‘ninja’ – which stands for No Income, No Job, No Assets – and ‘jingle mail’, the process of sending house keys back to a mortgage lender when repossession is looming, are included as they are key expressions in these times of economic turbulence.
Meanwhile, recent figures from the Council of Mortgage Lenders revealed that gross total lending declined 12 per cent in August.
By Jamie Price