Cashback Remortgages · Mortgage rates
APRC and Mortgage Illustrations Explained
The APRC and your mortgage illustration are designed to show the fuller cost of a mortgage, not just the initial rate. Knowing how to read them helps you compare.
What the APRC shows
The Annual Percentage Rate of Charge (APRC) reflects the cost over the whole term, including moving onto the reversion rate after the deal ends, plus certain fees. It is useful for comparison but assumes the rate lasts the full term, which rarely happens if you switch.
Use it as one signal, not the only one.
The illustration (ESIS)
Your illustration sets out the payments, fees, features and risks in a standard format. Read the fees and the reversion rate, not just the headline, and compare deals on total cost over the period you expect to keep them.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.