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How do Comparison Rates really work?

 

Comparing apples with oranges doesn’t make sense. To make finding the right loan easier, and to make advertised rates as transparent as possible, we have comparison rates.

You’re looking for the best mortgage deal and you see something advertised at ‘3.8%’. Underneath that seemingly too-good-to-be-true rate it reads ‘4.9% comparison rate’. What does this mean?

In 2003, …Read More

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