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APR

APR is the commonly used acronym for the Annual Percentage Rate of the total charge for credit: this is the standard way (as laid down by the Consumer Credit Act 1974 and the Financial Services Authority) of working out the true interest rate.

All lenders are legally obliged to show the APR alongside quoted interest rates for each mortgage term, this enables you the potential borrower to accurately compare mortgages from different lenders to work out exactly how much you will repay on your loan each month.

If you need any more information, then simply speak to an expert today.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

TJ Oliver & Associates charge a fee for financial advice dependent upon circumstances. Typical fee £200 application fee and £200 completion fee. This is in addition to commission that we receive from the Lender.

We also offer a fee only option for mortgage advice. The amount will depend upon your circumstances but we estimate this will usually be a fee of 3% of the mortgage amount plus a fee of £200 payable on completion. Any commission paid by the lender will be used to reduce the fee payable.

The overall cost for comparison is 8.7% APR for customers who may have their access to credit restricted.

T J Oliver & Associates is an Appointed representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Services Authority. Registration number 305330, in respect of mortgage and insurance mediation activities only.
Details of which can be found by visiting www.fsa.gov.uk