Loan-to-value (LTV) This represents the percentage of the property price you want to borrow. E.g. a £100,000 property with an £80,000 mortgage would be an 80% LTV.
The maximum LTV we'll lend you depends on your individual situation, the property, the loan you choose and the amount you borrow.

Initial interest rate
This is the initial percentage rate at which we calculate interest on the mortgage.

Variable rate When your initial mortgage rate ends, the interest on your mortgage will be calculated using the HSBC Standard Variable rate or HSBC Buy to Let Standard Variable rate. This will vary over the term of the loan and is set internally. Our Standard Variable rates do not track the Bank of England base rate.

Initial interest rate period
This is the period during which the fixed or tracker rate applies. For fixed and tracker rate mortgages, when the specified period expires, the rate will revert to the HSBC Variable/Buy to let Variable Rate.

Overall cost for comparison - Annual Percentage Rate of Charge (APRC) The APRC represents the overall cost for comparison and can be used to compare mortgages.

Booking Fee A fee charged on some mortgages to secure a particular mortgage deal.

Annual overpayment allowance Your annual overpayment allowance is a percentage of the amount drawn down at the start of your mortgage in the first year and of the outstanding balance on your mortgage at the start of each subsequent year during which the ERC applies and which you can overpay during that year without incurring an ERC.