Interest Rates Explained
Hot Topics
- Types of Mortgage:
- Variable rates Mortgages: - mortgage payments are calculated by your lender on the so-called "Standard Variable Rate". This is based on the monetary "base rate" that is reviewed monthly by the Bank of England.
- Unusual Properties
- What happens if I have an unusual property?
- What Happens If We Have A Joint Mortgage, But One Of Us Wants To Leave?
- This area of the law is an extremely complex one – and it all depends on who is the legal owner of the property. You can read about this matter further on http://england.shelter.org.uk/advice/advice-469.cfm
- What Happens If I Can’t Keep Up My Repayments?
- It is very important that if you are having problems meeting your mortgage repayments, you talk to your mortgage lender straight away.
- What are Self Certification Mortgages?
- When you apply for a mortgage, the lender will require from you proof that you will be able to maintain the mortgage payments, and do not present a risk of non-payment for the large amount of money you are borrowing.
What is APR?
APR is used to identify the true cost of borrowing and to provide you with a method of comparing the true costs of a loan.
Mortgage loans were originally excluded from being required to quote an APR, however it is now a legal requirement that a true APR figure be provided with any loan illustration.
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