Jargon Buster A-C
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Jargon Buster - [ A B C ]Base Rate
The interest rate set by the Bank of England.
Base Rate Tracker
A Base rate tracker mortgage is usually linked to the Bank of England base rate.
Mortgage payments should rise and fall automatically as the base rate moves. The
benefit of a tracker mortgage over a variable rate one is that there is no waiting for
the lender to react to the move in base rate. However the rate charged by the lender
will generally be the base rate plus a fixed percentage.
Broker
A specliast adviser in their chosen field i.e. Mortgage, Insurance.
Building Societies Association (BSA)
The trade Association representing the interests of member societies.
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