when choosing a mortgage deal -which figures should be a priority

evosy1978

Hello

when choosing a mortgage deal, if I were to chooses a fixed rate, should i focus on the total amount payable at end of the fixed rate or at the end of the total term...?

thanks

ajex

I would look at at the end of fixed rate term as I can switch to cheapest option then ..

getmore4less

In most case you just need to do it up till the penalty period ends BUT you should look at follow on rates and consider what happens if you cannot change deals at that time.

To compare like for like.

Take the loans add the fees(even if you plan to pay them).

set the payments the same across all deals you are comparing

See how much you owe after the time you choose.

A slightly higher rate with a good followon rate might be a better choice of the cheapest deal if it could leave you never having to remortgage again.


A lot of people missed out on the great deals that were avaialble with followon tracker rates of base +<1.0% because they focused on the initial rates.