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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Base Rate

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The Bank of England states a base interest rate at monthly intervals. Commonly, an adjustable rate mortgage (ARM) is linked to the base rate as the underlying index for the mortgage itself. For example, a mortgage rate may be base rate plus 2%.

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