FAQs - The application process

What is representative and exact APR?

Sam Wooller, Customer Experience Communications Manager
Friday, 04 September 2020

A representative APR can be used to compare lenders against each other. When a loan is advertised with a representative APR, it means that at least 51% of customers receive a rate that is the same as or lower than this representative APR.

The APR you receive will be based on your credit score. This can be the same, lower or higher than the representative APR and your APR may not be the same rate that is offered to someone else. This is due to your individual financial circumstances.

We are unable to tell you exactly what your APR will be until you apply. However, the representative APR is used to give you a guide of what it is likely to be.

To learn more about what APRs mean, why not read our article that explains more about APR and what it means?