Loans FAQ
What is the 'APR' of a loan?
APR stands for 'Annual Percentage Rate'.
This is measure of the total cost of a loan. It takes into account the amount of interest paid over the term of the loan, plus any additional costs such as arrangement fees. When a lender makes a loan offer, they are required by law to quote the APR as well as the monthly repayments.
The APR quoted helps borrowers compare loans' costs and choose the best deal available to them.
