MSE - Mortgage Best-Buy Tool ERROR

ErcE

Hi,

Not sure if this is the best place to report this, but just wanted to let you know about quite significant error in you Mortgage BEst Buy page.

Myself and probably quite few other people use MSE Total Cost Assessment (for 1yr) to rank mortgages we're looking at. unfortunately calculation within is flawed. It doesn't work for LIFETIME TRACKER MORTGAGES with upfront FEES and these are the only mortgages I look at.

As I'm new user it doesn't allow me to paste any links here, so as example please click yourself on MSE Total Cost for First Direct: DIRECT Lifetime Tracker (1.79% 65%LTV) and error is clear to anyone with basic math skills.


You can clearly see there, that upfront cost is not taken to account in MSE Totals Cost calculation.

Could you please fix this, so I (and other people) can review Lifetrackers properly?


Thank you!

anselld

Indeed!

It seems to equate a lifetime tracker to a deal duration of zero. Then divides the total fees by zero, resulting in ummm .. zero.

Mathematical lunacy at its best.