understanding financial jargon
Annual Percentage Rate ( APR )
This is the rate of charge on a loan, calculated to a set formula. It includes not just the rate of interest, but also associated costs. The Annual Percentage Rate was introduced in the UK to provide a meaningful comparison of rates charged by different lenders. However in recent years more complex repayment systems have made APR a less meaningful comparison.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
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