Here’s the first mortgage term you should learn – Standard Variable Rate, or SVR. This is the interest rate you will be paying on the total amount you are borrowing. It is usually expressed as a percentage, and is different from an APR (Annual Percentage Rate). An APR includes all costs associated with the loan, [...]

Amortization describes the process of dividing mortgage payments over the term of the loan between interest paid and principal repayment. Mortgages loans are front loaded with interest; this means at the beginning of the loan you are paying more in interest than you are repaying on the principal balance. This works in your [...]