A lower headline rate can lose after fees. Compare monthly payment and the economic cost over the period you expect to keep the deal.
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lower true cost
Deal A
Deal B
Monthly payment
True cost
Interest paid
Balance left
True cost is not simply payments plus fees. We also compare the balance remaining, so a deal does not appear cheaper merely because it repays less capital. Rates are assumed unchanged during the comparison period.
How true cost is calculated
For each deal: payments made + upfront fees − cashback + balance remaining − original mortgage. This captures interest, fees and the effect of adding a fee to the mortgage. It excludes early repayment charges after the selected period and any different revert rate.
