# Directive 2008/48/EC Of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC, Division 3: Costs of the credit Extent: E+W+S+N.I. The borrowing rate or, if applicable, different borrowing rates which apply to the credit agreement [ % fixed, or variable (with the index or reference rate applicable to the initial borrowing rate), periods] Annual Percentage Rate of Charge (APR) This is the total cost expressed as an annual percentage of the total amount of credit . The APR is there to help you compare different offers . [ % A representative example mentioning all the assumptions used for calculating the rate to be set out here] Is it compulsory, in order to obtain the credit or to obtain it on the terms and conditions marketed, to take out — an insurance policy securing the credit, or Yes/no [if yes, specify the kind of insurance] — another ancillary service contract? Yes/no [if yes, specify the kind of ancillary service] If the costs of these services are not known by the creditor they are not included in the APR. Related costs If applicable Maintaining one or more accounts is required for recording both payment transactions and drawdowns If applicable Amount of costs for using a specific means of payment (e.g. a credit card) If applicable Any other costs deriving from the credit agreement If applicable Conditions under which the abovementioned costs related to the credit agreement can be changed If applicable Obligation to pay notarial fees Costs in the case of late payments You will be charged [… (applicable interest rate and arrangements for its adjustment and, where applicable, default charges)] for late payments. Missing payments could have severe consequences for you (e.g. forced sale) and make obtaining credit more difficult. --- Source: https://www.legislation.gov.uk/eudr/2008/48/annex/II/division/3 (the official version) Page: https://openlegislation.uk/eu-directive-2008-48/annex-II/division-3 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.