CAT Standard
In April 2000 the government introduced Cat standards for mortgages.
Cat stands for charges, access and terms. Lenders can choose whether to offer mortgages that meet the standards. Few have decided to offer them, but there are some available.
You can be sure that a Cat standard mortgage offers set values and has no hidden charges or terms. But a Cat standard product will not necessarily be the best for everyone. And a product which does not meet the Cat standard is not necessarily a bad product.
There are two Cat standards for mortgages - one for variable rate mortgages, and the other for fixed-rate or capped loans. Cats can apply to repayment loans and interest-only loans.
Your home may be repossessed if you do not keep up repayments on your mortgage.
We can be paid by commission or a fee. The precise amount will depend on your circumstances but will be typically around £500
The Financial Services Authority does not regulate some forms of Mortgage.
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