If a product has a ‘representative APR rate’, it means the annual rate at which lenders may charge you as the customer for borrowing. The APR has to be displayed as a representative by lenders, as it allows you to compare other products easily and fairly.

If you see an advertisement with a ‘Representative APR’ this means that the majority of customers (i.e. at least 51%) who respond to the advert will receive this APR rate, some, however may be different, depending on their credit rating and individual circumstances.

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