Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term APR - Annual Percentage Rate as it relates to mortgages in the UK. APR - Annual Percentage RateAPR stand for Annual Percentage Rate. There are various ways that companies compute APR. Mortgage Loan Fees may include Appraisal, Credit Report, Processing, Document Preparation, Administration, Underwriting, Flood Certificate, Tax Service, Wire Transfer, and other fees. But because all lenders follow the same rules to ensure the accuracy of the annual percentage rate, it provides consumers with a good basis for comparing the cost of loans, including mortgage plans. The total finance charge (including interest, loan fees, points) expressed as a percentage of the loan amount.
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