Mortgage Home Page
Online Calculator
The Mortgage Code
Compare Rates
Borrowing Limits
Buying Costs
Repayment or Interest Only
Flexible Mortgages
Early Repayment
Self Employed
Adverse Credit History
Mature Borrowers
Redundancy
Mortgage Protection
House Hunting
House Prices
Old or New Purchase
Move or Improve
Glossary
Mortgage and Finance Resources
|
|
Compare Rates
Compare mortgage rates is something that all mortgage borrowers do when they are shopping around mortgage companies for their mortgages or remortgage. Whenever you borrow money it is
important to compare mortgage rates because different lenders will offer different mortgage rates and incentives (such as cash back, discounts etc). There are so many 100s of
options available that it can become difficult to keep track of who has offered you which mortgage rate and which one you thought was best.
APR - Annual Percentage Rate
APR stands for Annual Percentage Rate. It is designed to provide you with a tool to compare mortgage rates from different lenders easily. It is an indication
of the true cost of borrowing because within it's calculation it includes the rate of interest as well as any other costs e.g. set up fees.
Your mortgage quotes will include an APR rate, you can use this as an indication of the true cost of borrowing each mortgage.
You can then compare rates with other mortgages you are looking at.
How Does this Affect You?
When you are trying to calculate the cost of buying your new home or your remortgage, don't be put off or confused by what different loan companies are
offering you. Whether you are a home mover, a first time buyer, a remortgager, a council right to buy tenant or a buy to let landlord, look at the
APR to help you compare mortgage rates. The APR will also help you compare mortgage rates if you have adverse credit problems.
Once you understand this, use the apply online button above to send an enquiry through to obtain a free no obligation quote which will have an APR so that
you can easily compare mortgage rates with other mortgage lenders.
|
