APRC
Business & Finance abbreviation · Personal Finance
| Stands for | Annual percentage rate of charge |
|---|---|
| Categories | Business & Finance |
APRC stands for Annual percentage rate of charge, a personal finance abbreviation.
Total cost of a UK or EU mortgage over its full term expressed as an annual rate, including interest, arrangement fees and the reversion rate that applies after any fixed or introductory period ends.
Example: The two-year fix is 4.3%, but the APRC of 6.9% reflects the higher standard variable rate afterward.
Usage notes
Introduced in the UK in 2016 when the EU Mortgage Credit Directive took effect. Because it assumes the borrower keeps the loan for the whole term, it can overstate costs for people who remortgage when a deal ends.
Related abbreviations
More personal finance abbreviations
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- 457(b) – Deferred compensation plan (Internal Revenue Code section 457(b))
- 529 – Qualified tuition program (Internal Revenue Code section 529)
- ABLE – Achieving a Better Life Experience account
- AER – Annual equivalent rate
- APR – Annual percentage rate
- APY – Annual percentage yield
- AU – Authorized user
- BT – Balance transfer
- CIBIL – Credit Information Bureau (India) Limited
- CRA – Consumer reporting agency
- DB – Defined benefit plan