Stands for 'Annual Percentage Rate' which helps you compare the cost of different mortgage deals. It takes into account the amount of interest you will pay, the length of the term of the mortgage, and certain other charges such as any arrangement fee.
Lenders sometimes charge a fee to cover the work involved in setting up your mortgage or for certain mortgage rates.
When moving home it is extremely useful to plan everything well in advance to avoid stress and costly mistakes. Below is a simple checklist that can smoothen up the whole process.