A is for...

Annual Percentage Rate (APR)

The APR is meant to give you an indication of the cost of borrowing, enabling you to shop around for low-rate mortgages. It is difficult to calculate and you shouldn’t rely on it too much. Always read the small print carefully to find out exactly how much you have to pay.

Application, booking or reservation fee
These days, most special-rate mortgages come with an upfront fee attached. You can pay this separately or add it to your mortgage, which cost you more in the long run. In the past, this initial fee would be around the £200 to £400 mark; these days, it's likely to cost you anywhere from £600 to £2,500.


B is for...

Broker
A mortgage broker is a middleman who helps you to find the right mortgage. Some brokers have links only to certain lenders, and you should ones with high brokerage fees. You need to look for a broker who can search the whole of the market for you and this is where