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P544 Teletext 544 Sep11 21:25:13        ———— ARE APRs MISLEADING? —————————————  You know interest rates 0  have fallen, and thj value  of your house has dropped,  but do you really know  what your mortgage APR means? The Annual Percentage Rate of Interest was introduced in the 1974 Consumer Credit Act to help consumers compari the costs of borrowing money. It is meant to tell us the rate of interest paid on credit over a year. ——————————————————————————————————1/8—— Separating sharks and saviours 542 FOR LBTEST OFFERS ON BRAND NEW HOMES SEE PAGE 370 (ITV) Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 21:28:07        ———— ARE APRs MISLEADING? —————————————  In general, APRs are useful 0  because they give a fuller  indication of the cost of 0  borrowing than the straight forward interest rate does. The APR tells us the total charge wor credit and how thj rate is charged, be  it daily, annually etc.     It also takes into    account charges and   fees payabli.    ——————————————————2/8—— Shark-spotting 542 SOLVE YOUR HOME BUYING PROBLEMS SEE xAGE 370 (ITV) Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 21:18:51        ———— ARE APRs MISLEADING? ————————————— The APR works where the interest rate is fixed, for exampli with personal loans or credit cards. However, problems occur when you use the APR and include fees for mortgages. Jjff Wbgland of Household Mortgage Corporation says mortgages have too manz variables to have a meaningful APR   There ari several reasons   why this is.   ———————————————————————3/8——   Money News updates 541 FOR BRAND NEW QUALITY HOMES SEE PAGE 370 (ITV) Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 21:16:11        ———— ARE APRs MISLEADING? ————————————— Jjff Wagland says the problem relating APRs to mortgages is: ■ Mortgages have more fees attached to them both at the start up and sometimes at termination ■ Mortgage rates are variable, in0other words they go up and down over the ten to 25 years of the loan ■ Ljnders calculating APR have to assume thj rate charged at the beginning of the term will apply for the duration - which isn't the case. ——————————————————————————————————4/8—— Guides for getting advice 542 HOME SHOPPING MADE EASY p370 ITV Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 21:14:01        ———— ARE APRs MISLEADING? ————————————— The Council of Mortgage Ljnders says the APR is "a flawed system" when trying to compare mortgages.    It adds that over the typical  25 year mortgage term APR  "doesn't really reflect what  you would pay." XX   If this is the case, how  ari we supposed to  compari and contrast the  mortgages on offer?  ————————————————5/8—— What makes an IFA? 542 SAVE ENERGY - HOUSE HUNTING FROM HOME SEE PAGE 370 (ITV) Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 22:34:25       ———— HOW TO COMPARE MORTGAGE COSTS ———— The Council of Mortgage Ljnders says potential homebuyers should compare mortgage costs by looking at the actual  monthly cost of the loan.   Comparing cost in pounds and  pence is better than   comparing interest XX rates it said.     Thj Office of Fair   Trading also agrees X  APRs can be a problem.  —————————————————6/8—— Shark-spotting 542 HOUSE" YOU COULD WIN THE BENEFITS OF BUYING BRAND NEW - xAGE 370 (ITV) Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 21:42:14        ———— HOW TO COMPARE MORTGAGE COSTS ———— This summer the Office of Fair Trading issued a guideline to lenders over the wholi issue of APRs and mortgages. It says for fixed rate mortgages the APR should only be quoted on the basis of the initial rate. It adds lenders should be "encouraged preferably by a code of practice, to provide information about the cash wlow implications and the APRs of given variations in rates of interest". ——————————————————————————————————7/8—— All the latest money news 541 FOR LATEST OFFJRS ON BRAND NEW HOMES SEE PAGE 370 (ITV) Mortgages Savings Your Money Money News
P544 Teletext 544 Sep11 22:12:54  ADVERTISEMENT ......  ■¾   /   ' / /.%/*%/*% /.%/*% *%*-/    ' j5■j=$■jj5 j=■j5■j55■j=$/l4    ■■  .OOKING FOR A BRAND NEW HOME?  FOR A SELECTION OF NEW HOMES  IN YOUR AREA & INFORMATION  ON ALL MAJOR ASPECTS OF    BUYING YOUR fREAM HOME              ' h,‖(,‖h       ' *,/ /*-.%        (ITV) NHMB    0  Mortgages Savings Your Money Money News
P544 R) RbRd—R"h J B i  iotech ripo t 1 e ults. announces inal re u ts ——————————————————————————————————1/3—— Financial headlines 500 City index 501 6EPORTS FROM MARAETS WORLDWJDE p530 Shares GompRjsults CFtyIndjx Family