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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A
APR - annual percentage rate. Usually shown in brackets after the headline rate for a mortgage deal, the APR is meant to incorporate any additional payments beyond the interest rate, thereby indicating the true cost of the deal. However, anomalies in the way lenders are allowed to calculate their APRs means they are not always an accurate reflection of what your loan would cost or a useful comparison with other loans. ASU - accident, sickness and unemployment insurance covers your monthly mortgage repayments should you fall ill or be made redundant. Your lender may offer you cover as part of your mortgage deal, or it is available from various mainstream insurers and insurance brokers. Watch out for the restrictions on this kind of cover. arrangement fee - some lenders charge a fee for setting up your loan. It's normally payable on completion and can sometimes be added to the loan. |
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