Common use of Comparison rate Clause in Contracts

Comparison rate. We work out the comparison rate used in the calculation of the interest rate differential charge in section 8.21.1 as follows: A We start with our posted interest rate, when you prepay, for a fixed rate closed term that is closest in length to the time remaining in the existing term of the loan. B If you received a discount when you began the existing term of the loan, we subtract this discount from A. The result is the comparison rate. C To check if you received a discount when you began the existing term of your loan, we compare your interest rate to the posted interest rate for your existing mortgage product when you entered into your existing term. If the posted rate was more than your interest rate, the difference is your discount. If you have a blended interest rate (as described in section 4.4), the discount is a blend of any discount you received on the prior loan and any discount you received on the additional loan amount. If an amount was paid to us to buy down your interest rate, the rate buy down is not included in the discount. Multi-unit and non-residential property6.

Comparison rate. We work out the comparison rate used in the calculation of the interest rate differential charge in section 8.21.1 10.21.1 as follows: A We start with our posted interest rate, when you prepay, for a fixed rate closed term that is closest in length to the time remaining in the existing term of the loan. B If you received a discount when you began the existing term of the your loan, we subtract this discount from A. The result is the comparison rate. C To check if you received a discount when you began the existing term of your loan, we compare your interest rate to the posted interest rate for your existing mortgage product when you entered into your existing term. If the posted rate was more than your interest rate, the difference is your discount. If you have a blended interest rate (as described in section 4.46.4), the discount is a blend of any discount you received on the prior loan and any discount you received on the additional loan amount. If an amount was paid to us to buy down your interest rate, the rate buy down is not included in the discount. Multi-unit and non-residential property6.

Comparison rate. We work out the comparison rate used in the calculation of the interest rate differential charge in section 8.21.1 9.21.1 as follows: A We start with our posted interest rate, when you prepay, for a fixed rate closed term that is closest in length to the time remaining in the existing term of the loan. B If you received a discount when you began the existing term of the your loan, we subtract this discount from A. The result is the comparison rate. C To check if you received a discount when you began the existing term of your loan, we compare your interest rate to the posted interest rate for your existing mortgage product when you entered into your existing term. If the posted rate was more than your interest rate, the difference is your discount. If you have a blended interest rate (as described in section 4.45.4), the discount is a blend of any discount you received on the prior loan and any discount you received on the additional loan amount. If an amount was paid to us to buy down your interest rate, the rate buy down is not included in the discount. Multi-unit and non-residential property6.

Comparison rate. We work out the comparison rate used in the calculation of the interest rate differential charge in section 8.21.1 9.21.1 as follows: A We start with our posted interest rate, when you prepay, for a fixed rate closed term that is closest in length to the time remaining in the existing term of the loan. B If you received a discount when you began the existing term of the your loan, we subtract this discount from A. The result is the comparison rate. C To check if you received a discount when you began the existing term of your loan, we compare your interest rate to the posted interest rate for your existing mortgage product when you entered into your existing term. If the posted rate was more than your interest rate, the difference is your discount. If you have a blended interest rate (as described in section 4.4section5.4), the discount is a blend of any discount you received on the prior loan and any discount you received on the additional loan amount. If an amount was paid to us to buy down your interest rate, the rate buy down rate is not included in the discount. Multi-unit and non-residential property6.

Comparison rate. We work out the comparison rate used in the calculation of the interest rate differential charge in section 8.21.1 7.21.1 as follows: A We start with our posted interest rate, when you prepay, for a fixed rate closed term that is closest in length to the time remaining in the existing term of the loan. B If you received a discount when you began the existing term of the your loan, we subtract this discount from A. The result is the comparison rate. C To check if you received a discount when you began the existing term of your loan, we compare your interest rate to the posted interest rate for your existing mortgage product when you entered into your existing term. If the posted rate was more than your interest rate, the difference is your discount. If you have a blended interest rate (as described in section 4.43.4), the discount is a blend of any discount you received on the prior loan and any discount you received on the additional loan amount. If an amount was paid to us to buy down your interest rate, the rate buy down is not included in the discount. Multi-unit and non-residential property6.property. When this part applies.