GAZUNDERING
When a buyer and seller agree a price for a property and the buyer drops the price at the last minute; just before contracts have been exchanged.

GIFT AID
Tax relief on money you give to charities. Charities can claim basic rate tax relief from the government on behalf of taxpayers, while higher rate taxpayers can claim tax relief via their self-assessment tax form.

GILT
A bond (which is an IOU for a loan) issued by the UK government.

GRANT OF LETTERS OF ADMINISTRATION
If you die without a will, a close relative can apply to the probate registry to deal with money and/or property etc. you leave behind. The grant of letters of administration gives them that authority.

GRANT OF PROBATE
The legal document to show that authority has been given to one or more people (the executors) to pay off any debts and distribute money and/or property that's been left after you die if you have a will. In Scotland, it is called 'grant of confirmation'.

GROSS INTEREST
Interest that is paid to you before tax has been taken off. Many savings products have basic rate tax deducted before you receive the interest. If you're a non-taxpayer, you should fill in a form called R85, which is available from HM Revenue & Customs' website, so that interest is paid gross.

GROUP PERSONAL PENSION
A pension plan that your employer may offer. Although it's a pension that you can join through your work, it's not classed as an occupational scheme (but as a personal pension). As a general rule, it's normally worth joining if your employer makes contributions on your behalf.

GUARANTEED PREMIUMS
With some insurance policies (such as those that pay out an income if you can't work because you're ill), you can opt for guaranteed premiums, which will not go up by more than a specified amount during the period of the guarantee. Guaranteed premiums are more expensive at the beginning, but non-guaranteed premiums can rise dramatically after a number of years.

GUARANTOR
If you don't earn enough to take out a mortgage in your own right, you can ask someone else (a parent or friend) to act as a guarantor, who agrees to pay off the loan if you cannot. It's a serious responsibility and one they should not take lightly. The mortgage lender will want to know that the guarantor is able to afford the full mortgage payments (and not just the part not covered by your income).