Interest Rates Explained
Hot Topics
- What Will The Initial Costs Of Buying A House Be?
- Before you actually move into your new property – you will have to pay a series of initial costs to cover the following:
- How Much Deposit Do I Need?
- As a general rule of thumb, you need to make a deposit of about 5 – 10% of the total amount you are borrowing.
- Unusual Properties
- What happens if I have an unusual property?
- What Are Discounted Mortgages?
- Discounted rate mortgages take the lenders standard variable rate and apply a discount. By applying the discount it allows the borrower to reduce the interest rate on the loan for a set period of time.
- I Have Been Turned Down For A Loan Or Credit Card, Will I Still Be Able To Get A Mortgage?
- If you have been turned down for a credit card or loan, then you need to find out why your application was rejected before you apply for a mortgage.
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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