Initial Interest Rate – Mortgage Glossary

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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Initial Interest Rate

The initial interest rate that is charged on the mortgage for a set period of time, often at below market rate, in order to tempt the borrower to enter into the mortgage agreement.

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Typical Interest Payments

First Time Buyers

5.94%

Purchased Fixed

6.45%

Discounted Rate

5.95%

Buy To Let

6.29%

Commercial

7.55%

 

 

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Mortgage Glossary

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