Payment rates established by the contracting agency for carrying out specific construction or maintenance activities (e.g. three currency units per cubic metre of excavation).
A loan where the initial payments are based on a certain interest rate for a stated period and the rate payable will not change during that period regardless of changes in the lender's standard variable rate. There is usually a penalty if you pay off all or part of the loan during the fixed period.
With a fixed rate, your repayments are fixed for a predetermined period e.g. 1, 2, 3 or 5, 10 years.
A mortgage product where the initial payments are based on a certain interest rate for a stated period. This rate will not change during that period regardless of changes in the lender's standard variable rate. This enables you to budget by knowing your exact mortgage payment from month to month.
The interest rate/payment will be the same throughout the life of the loan.
A loan where the initial payments, for a certain period of time, are based on a specific interest rate. The rate payable will not change during that period regardless of changes in the lender's standard variable rate or the Bank of England Base Rate.
This is a rate of interest usually offered for a set period which remains the same throughout the specified period, regardless of changes to interest rates in the market
