Unit 3 The One Account
Reading tasks
How the text is organized
Read the statements and say which extract each statement refers to? (Eg. Statement 1 refers to extract 2)
Para___describes the traditional way of running personal finances
Para___ describes the possibilities received and specifies the agreed term of repayment.
Para___gives an example of unprofessional personal money management.
Para___describes how people manage their mortgage debt nowadays and what problems they face.
Para___ introduces the One account stating its main benefit,
Para___ suggests the way of saving money.
Para___stresses the necessity of having your salary paid into your mortgage account and the possibility of running the One account like an ordinary bank account.
Para___ recommends what to do first when you open the One account.
Para___explains how the agreed term of debt repayment can be dramatically cut.
Scanning
Scan the text for the specific information and give the response.
1. According to the article, how do most people spend most of their life as far as money is concerned?
2. What do people not usually realize?
3. How do people traditionally run their personal finances(salaries, savings, mortgage)?
4. What does the One account allow people to do with their savings and borrowings?
5. When you open a One account, what should you negotiate?
6. How much can the overall borrowing facility represent?
7.If your house is valid at £ 100 000 and you need an 80% mortgage, what loan facility can you set up?
8. What does such loan facility give you?
9. What can you do once the lending facility has been agreed?
10. What assurances of debt repayment will satisfy the bank?
11. What is the main proviso of the bank?
12. When you have opened the One account, what should you do with your salary?
13. What interest must you pay?
14. The One account is run like an ordinary bank account. What does this mean?
15. What may seem quite obvious?
16. But what precisely are most people doing nowadays?
17. What happens with interest on money on their ordinary bank account
18. What choice do most borrowers have about how to manage mortgage debt?
19.If borrowers want to pay off capital early, what problem may they face?
20. What does this mean?
21. What does the example with a mortgage of £ 60 000 repayable over 25 years at interest rate of 8.55% show?
22. How much could you save if your repayments were taken into account the moment they were made?
23. When can you really start reducing your debt gradually?
24. What can you afford as salaries rise?
25. What can happen in this instance?
Current vocabulary check
Assignment 1
1. Find the beginning and ending of the given sentences
| 1. p.12 (Bef) | happy | at running his finances. | |
| 2. p.15 (E) | are | difficult | to pay off her mortgage. |
| 3. p.15 (E) | was | good | with the way their bank accounts are handled? |
Assignment 2.
Translate the sentences using word combinations from the vocabulary
networks above.
a). Complete the sentences with:
the best alternative in bold by underlining it.
1. Are you happy by/with the way your account is handled?
2. It’s not surprising that he is good at/in running his finances.
3. He earns interest on/at 5%.
4. He didn’t get interest for/on money in his ordinary bank account.
5. According to/with the text, what of bank accounts are offered?
b) appropriate multiword verbs from the box.
| Verbs:charge, consolidate/, dip, eat, keep, pay (2), provide |
| Prepositions: into (3), for, off, to, with |
1. This account allows you to ___ ___ your mortgage early.
2. Your salary must be ___ your account.
3. I had to___ ___ savings to pay for holiday.
4. This account allows to ___ the cost of your borrowing ___ a minimum.
5. How much do you ___ ___ mortgage?
6. You can save money by ___ your income, savings and debts ___ a single bank account.
7. Do you know the ways that can help me ___ ____ my debt?
8. Our bank can _____ you _____ a cheque book and a bank card.
c) appropriate prepositional phrases
| Prepositions: at(2), by(2), for, in, on(2) |
| Nouns: all, basis, face, installments, end, instance, once, time |
1. This account calculates your interest ___ a daily___.
2. You must repay the debt ___ the___ of an agreed term of ____ the ___ you retire.
3. ___ the ___ of it, they have little choice.
4. Let’s take, ___ ___, a mortgage of $ 60,000, repayable over 25 years___ the interest ___ of 9%.
5. They didn’t get any interest ___ ___.
6. You will pay off your mortgage ___ regular ___.
7. It’s difficult to cut costs ___ the present ___.
8. I’m going to make a withdrawal ___ ___.
d). the pairs of words or phrases from the box
| • how/ usually• early/immediately • completely/mortgage • • equally/however • interest/daily • traditionally/dramatically• • rapidly/ gradually • precisely/doing • than/actually • • originally/still • |
1. This is what____ most people are ____.
2. ____do people____arrange and repay their mortgages?
3. Do you prefer to reduce your debt___ or ____?
4. ____ important is the fact that you can repay your debt ____ you choose.
5. I want to pay off some of my capital___. Will you credit the repayments____?
6. The loan seems bigger____ the one that ____exists.
7. You must pay ____ which is calculated ____
8. This way is a ____different arrangement to pay off the ____.
9. Out of 1000 that John ____ borrowed he ___owes more than 500.
10. As salaries rise, the term of what____would have been a 25 year mortgage can be cut____.
Assignment 3
a). Match the verbs with the nouns::
debts, interest, loan, mortgage, repayment(s), salary
1. calculate/pay/earn/get/charge_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
2. arrange/repay/fund/pay off _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
3. make/credit_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
4. take out/repay_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
5. consolidate/manage/eat into/worry about_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
6. come in/pay into account_ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
b). Translate the sentences using verb-collocations from Ex. 3a.
1. Джон получил ссуду, но не смог ее выплатить, так как зарплата не поступала. Вы можете постепенно сократить свой долг, если ваша зарплата будет вноситься на единый счет. Вы можете сэкономить деньги путем консолидации своих доходов, сбережений и долга на едином банковском счете. Он не беспокоится о долгах, так как знает как ими управлять.
2. Как люди обычно …..
…. оформляют ипотеку?
… пополняют ипотечный счет?
… консолидирую т ипотечный долг?
… выплачивают/погашают долг по ипотеке?
3. Если бы ваши выплаты по ипотеке были приняты на счет в момент, когда они были произведены, вы могли бы выплатить заем быстро.
Наш банк предлагает/подсчитывает/начисляет/ платит и иногда взимает процент по депозиту.
Мы заработали процент, а они вообще не заработали никакого процента.
Assignment 4
а). Complete vocabulary network starting with head-words: make, money
| l - st | ch - - - es | com - - - - son |
 with - - - - al
| make | 
| m - - ey |
| tr - - - - - tion | re - - - ments |
Возврат\ возмещение, деньги, сборы, сделка, снятие денег с вклада, список, сравнение.
| o - n |  о-e
| b - - - - w |  l - nd
| e - - n | s - - e |
| with - - - w | 
|    money
| 
| d - - - - it |
| sp - - d | p - y | tr- - - - -r | in - - - t | b - - k | re - - ive |
Вкладывать/инвестировать, владеть, вносить/класть в банк, давать взаймы/ссужать, держать в банке, задолжать, занимать, зарабатывать, копить/экономить, переводить, платить, получать, расходовать/тратить, снимать со счета.
| p – y in | p – y out | p –y into account | p – t in |
| take out from the ac - - - - t | 
|  money
| l - - d onto the c - -d |
| st - - e on the c - - d | p – t … into |
брать со счета, вносить на счет, выплачивать (частями), возвращать, класть, класть на счет, загружать на курточку, хранить на карточке
Assignment 5
Match the Russian words or phrases with their English equivalents from the box.
| 1. at the same time | 8. once | 15. on the face of it | 22. precisely |
| 2. at the present time | 9. like | 16. a year later | 23. rapidly |
| 3. so | 10. at all | 17. on a daily basis | 24. quite |
| 4. so that | 11. however (2) | 18. for most of the year | 25. completely |
| 5. for much of the time | 12. other than | 19. dramatically | 26. traditionally |
| 6. by the time | 13. equally | 20. actually | |
| . 7. originally | 14. as if | 21. gradually |
1. John wanted to start his own business (поэтому) he asked the bank to set out a loan facility.
2. (Год спустя) John lost his job and couldn’t repay money he had (первоначально) borrowed.
3. What rate of interest is set (в настоящее время)?
4. The One account calculates interest (ежедневно).
5. (В то же самое время) the One account is run (подобно) an ordinary bank account.
6. (Однако) the debt must be repaid (к моменту) you retire.
7. It is a (полностью) different arrangement to pay off the mortgage.
8. (На первый взгляд) only a fool would put his money into one bank.
9. (В течение долгого времени) their not getting any interest (вообще).
10. (Как только) the lending facility has been agreed you can dip into it whenever you want and, (в равной степени) important, pay it off (как бы ни) you choose.
11. Most borrowers have little choice about how to manage mortgage debt (кроме как) to pay regular amounts prescribed by the lender.
12. This means that (большую часть года) interest is being charged (как если бы) for a loan that is bigger than one that (фактически) actually exists.
13. Do you prefer to do it (постепенно) or (быстро)?
14. Mary took out a loan (с тем, чтобы) she could buy a car.
15. Cost can be cut (довольно) (значительно).
16, This is (именно то) what people (традиционно) do.
Assignment 6
According to Russian variant given in column A match
(1) the nouns in column B with the nouns in column C
(2) the adjectives/participles in column B with the nouns in column C
to make business expressions that occur in the unit. Write them out in the spaces.
6.1
A B C
| банковская карта _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | bank (3) | account (2) | |
| банковский счет_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | borrowing | aspect | |
| возврат/возмещение капитала _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ | capital cost | borrowing card | |
| долг по ипотеке_ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ | key | - | customer |
| заемные (2) средства _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | lending | of | debt |
| ипотечный счет _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | loan(2) | facility(3) | |
| клиент банка_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | mortgage(3) | interest | |
| ключевой аспект _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | (the) number | repayment(s) (3) | |
| кол-во снятий вкладов _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | overdraft | withdrawals | |
| погашение ипотечного долга _ _ _ _ _ _ _ _ _ _ _ | rate | ||
| погашение ссуды_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | |||
| процентная ставка_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | |||
| стоимость кредита_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | |||
| услуги кредитования_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | |||
| услуги по предоставлению овердрафт_ _ _ _ _ _ _ |
6.2 A B C
| важное ограничение_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | additional | account |
| главное условие _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | appropriate | amount(s) (2) |
| главные положения _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | best | arrangement |
| дополнительная сумма _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | complete | business |
| дополнительные выплаты _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | correct | credit |
| дополнительный кредит _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | current | customer |
| другой порядок ведения ч-то _ _ _ _ _ _ _ _ _ _ _ _ _ | different | explanation |
| единый счет_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | extra (2) | finances |
| личные финансы _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | important | income |
| наилучшее объяснение_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | main (2) | information |
| полная картина_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | opposite | installments |
| потенциальный клиент_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | ordinary | page |
| верная информация_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | own | phrase |
| противоположная страница_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | personal | picture |
| регулярные взносы/суммы_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | potential | points |
| регулярный доход_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | regular(2) | proviso |
| собственное дело (о бизнесе) _ _ _ _ _ _ _ _ _ _ _ _ _ _ | single | rate |
| соответствующий/традиционный способ_ _ _ _ _ _ _ _ | traditional | repayments restriction |
| текущая ставка_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | way |