How is my mortgage rate calculated?

Your mortgage rate (or APRC) is how much you’ll be charged to borrow money over the term of your mortgage, including any additional fees or charges. This is then expressed as a percentage to help you easily compare different mortgages. There are many factors that can influence your mortgage rate, but two that you can have an impact are your credit score and the size of your deposit. A good credit score and a bigger deposit can give you a lower APRC, meaning cheaper monthly repayments.

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