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Adverse Credit - An unfavourable entry on a credit file that may reduce a credit score. This may include payment arrears, bankruptcy or a County Court Judgement (CCJ). Annual Percentage Rate - A figure that shows the true cost of a Mortgage or loan. The interest rate is included in the rate in addition to all fees and charges the borrower is required to pay. The figure is designed to help people compare different mortgage and loan products against each other. APR - See Annual Percentage Rate Arrangement Fee - A fee charged to a borrower by a lender to cover the costs of arranging a mortgage. Some lenders allow the fee to be added to the loan. Arrears - Occur when a borrower falls behind on their Mortgage or loan payments. |