Mortgage terminology has developed over a period of time, and tends to run in line with the terminology used generally in the financial sector. Many of the financial terms used by mortgage companies are common to lenders in general, such as banks, building societies and even in some cases the financial departments of large multi-national retail stores.When discussing the word ‘rate’ in the mortgage sector we are specifically discussing the interest rate applied to a mortgage loan by the lender. For more details kindly contact us