We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
APR rate
TheGame21
Posts: 195 Forumite
How much attention should I give to the APR rate when taking out a mortgage as the SVR is liable to change therefore the APR rate will change as well. Looking at mortgages with an APR rate of 4.1 and 4.5.
0
Comments
-
I would take into a/c the actual rate you pay initially, how long for, what fees are payable, early redemption penalties but not the APR for the 25 years0
-
Unfortunately, the APR is about an useful as a chocolate tea pot and offers no real comparison purpose. Basically, it takes into account any initial introductory scheme and then assumes once the scheme has ended, you will maintain the same lender's SVR for the rest of the mortgage term. This is such an unlikely scenario that any APR comparison is pointless.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards