understanding financial jargon
Total Charge For Credit
A way of expressing the total true cost to the borrower of his loan is called 'Total charge for credit'. the total charges include all interest payable, arrangement, redemption, administrative fees, valuation, solicitors' fees, MIG premiums, other insurance premiums if there is no choice of insurer, and any other charges that relate directly to the mortgage loan.
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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