Learn to be a Financial Hunter - not the hunted

.Home..|..Banking & Savings..|..Credit Cards..|..Credit File Help..|..ISAs |..Equity Release.|..Mortgages..|..Stockmarket & Investing help

Mortgage section
FREE Report: How to get the right mortgage at the best price
It takes just 4 easy steps
How to make sure you don't overpay on charges
Learn to quickly sort through the market maze
How to get a flexible deal - why this is so important
More details
You Are Here: Home > Personal Finance > Mortgages > FAQs > Question & answer
What is a CAT style mortgage
Last update : September 2010
Adverts
Want to improve your credit rating? Consider using a low-limit Credit Card as a strategy of monthly borrowing and repaying. It works wonders. Find out more.
CAT stands for Charges - Access - Terms and is a voluntary code which some (but not many) mortgage deals follow.

If a mortgage is CAT rated then it will clearly state this in its promotional material.

A CAT mortgage will offer the following -

  • The interest is calculated daily and full credit for all payments when made
  • There are no higher lending fees (more information on mortgage charges)
  • All fees and charges are disclosed up front
  • No fees are paid to a mortgage broker
  • They must be available to both new and existing borrowers
Having a CAT mortgage is an advantage for most borrowers as it means there can be no ambiguity in the small print and the terms of the mortgage cannot change. But as stated above not many lenders offer them.
Searching for the Best Mortgage Deal?
  • We compare 8500 mortgages to find you the best value deal
  • Free, no obligation quote
  • We compare the whole market which means our quotes can't be beaten
  • Independent, impartial and FSA registered
  • More Details
  • £150,000 from £275 per month
  • £200,000 from £367 per month
  • £300,000 from £550 per month

Compare quotes from......

More Details

Looking for something? Then search this site:

© 2010 LearnMoney.co.uk All rights reserved

The information on the LearnMoney.co.uk website has been compiled from sources believed to be reliable, but is not warranted to be accurate or complete.
All recommendations and comments are provided for general interest only and should not be construed as advice.
Professional advice should always be sought before buying or investing in any financial product.
The price of securities and any income from them can go down as well as up.
Past performance of a security or market is not necessarily indicative of future trends.
Any opinions and recommendations on LearnMoney.co.uk are given in good faith, but without legal responsibility and are subject to change without notice
.