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The Mortgage Route A to Z
Initial Rate

This glossary or A to Z should help clear up any confusion as to what terms mean what in the mortgage and insurance industry

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Letter I

Initial Rate

Interest rate that is payable from the commencement of the loan this will normally be the rate applicable to the deal that you arranged, for example if you had a fixed rate of 5% and the variable rate was 6% the initial rate would be classed as the 5% and would be applicable until the end of the initial period ie the end of the particular deal.

FSA declaration and important text about mortgage advice