Mortgage Rates

There are many rates to take into consideration. The most important being the interest rates. The interest rates are used to by the lenders to make their profit.

Types of interest rates: LIBOR - this is the London Inter Bank Offer Rate - this is the rate money markets depend on. Then there's the Bank of England Base Rate - the bank of England decides what rate interest should be.

You also have the Standard Variable Rate. This is the rate set by the lender's standard.

The APR is another rate which is used to indicate and compare interest rates after the all the costs are considered.

Fixed Rate is a budget which is paid back as fixed monthly payments.