Annual Percentage Rate (APR) - Cheap Mortgage Deals

APR or Annual Percentage Rate takes into account the amount of interest you will pay and the term of the mortgage. So the higher the APR the more you will pay, the lower the APR, the less you pay.

Many people have taken advantage of lower than average interest rates over the last 5 or so years and opted for a fixed rate product which is a good idea if you feel the lower interest rate will be increasing soon.

If you are applying for an adverse credit mortgage you may find that the APR charged on the product may be higher than on the more standard products. If you are applying for a self cert, buy to let or non status mortgage the chances are that the rate will also be higher to reflect the perceived higher risk to the lender.