Example of the annual percentage rate for a given mortgage product, normally
used in an advertisement in order to comply with the requirements of the
Consumer Credit Act (Advertising Regulations) see also APR.
Lenders will offer rates from a certain level up to a higher level depending on
the status of the applicant the typical APR is designed to reflect the level
that the lender mostly lends at and not the lowest rate, as they might never
lend and their lowest for one reason and another and therefore this is
considered to misleading should that rate be displayed.