This guide will help you understand what the product table shows you, and help you when making sure the product is what you are looking for.
Initial rateThis is the initial rate of interest, which is charged on your mortgage for the length of the tracker deal. It also shows the percentage that the tracker rate is above the Bank of England bank rate and highlights the end date of the tracker rate. Find out more about tracker mortgages.
Followed by our Homeowner Variable Rate, currentlyWhen your initial rate ends you will automatically move onto the Homeowner Variable Rate*. When this happens the Homeowner Variable Rate could be higher or lower than the initial rate of your mortgage deal. If you do not want to automatically move onto the Homeowner Variable Rate you have the option to review other mortgage deals available at that time.
*If you are looking at a "full-term tracker" rate the Homeowner Variable Rate box will not be shown on the product table. This is because the rate runs until the end of the mortgage term.
The overall cost for comparison is‘APR' stands for Annual Percentage Rate and takes into account all of the costs of a loan – giving you the ‘overall cost for comparison’. An APR is calculated in a standard way to allow you to compare different mortgage offers, including those from other lenders.
The APR includes important factors such as:
It is important to remember that these APRs are calculated using ‘average’ figures so each individual loan will have slightly different APR. The actual APR that will apply to your mortgage will be calculated when you get a personalised quote.
Product feeThis column indicates if the product you are looking at has a fee for taking this particular deal. Generally the higher the product fee the lower the initial interest rate. The product fee will be added to the mortgage, but once your mortgage starts, if you pay it off within 30 days no interest will be charged. Or if you want to spread the cost, you can leave it on your mortgage and interest will be charged on it as part of your mortgage. Take a look at our Fees and charges for more information.
Early repayment chargesIn return for the benefits offered by some C&G mortgages, the loan may carry a charge if you repay all or part of it in the early years or switch to a different mortgage - these are called early repayment charges. The table shows the date until which the charge applies to this particular mortgage. The percentage of the charge can be found under the Important information tab, on the product page.
Please take a look at our mortgage range or for more information on the mortgage process please see our understanding mortgages guide.
Initial rateThis is the initial rate of interest, which is charged on your mortgage for the length of the fixed rate deal, and highlights the end date of the fixed rate. Find out more about fixed rate mortgages.
Followed by our Homeowner Variable RateWhen your initial rate ends you will automatically move onto the Homeowner Variable Rate. When this happens the Homeowner Variable Rate could be higher or lower than the initial rate of your mortgage deal. If you do not want to automatically move onto the Homeowner Variable Rate you have the option to review other mortgage deals available at that time.
The overall cost for comparison is‘APR' stands for Annual Percentage Rate and takes into account all of the costs of a loan – giving you the ‘overall cost for comparison’. An APR is calculated in a standard way to allow you to compare different mortgage offers, including those from other lenders.
The APR includes important factors such as:
It is important to remember that these APRs are calculated using ‘average’ figures so each individual loan will have slightly different APR. The actual APR that will apply to your mortgage will be calculated when you get a personalised quote.
Product feeThis column indicates if the product you are looking at has a fee for taking this particular deal. Generally the higher the product fee the lower the initial interest rate. The product fee will be added to the mortgage, but once your mortgage starts, if you pay it off within 30 days no interest will be charged. Or if you want to spread the cost, you can leave it on your mortgage and interest will be charged on it as part of your mortgage. Take a look at our Fees and charges for more information.
Early repayment chargesIn return for the benefits offered by some C&G mortgages, the loan may carry a charge if you repay all or part of it in the early years or switch to a different mortgage - these are called early repayment charges. The table shows the date until which the charge appllies to this particular mortgage. The percentage of the charge can be found under the Important information tab, on the product page.
Please take a look at our mortgage range or for more information on the mortgage process please see our understanding mortgages guide.
