How do I compare two mortgage deals properly?

Comparing only the headline interest rate can be misleading because a low rate with a large product fee can cost more than a slightly higher rate with no fee. This calculator totals each deal's payments plus its product fee — either during the fixed-rate period, or across the full term using the rate each deal reverts to — so you can see which is genuinely cheaper. It is illustrative and does not account for early repayment charges, which can differ significantly between products.

Is the mortgage with the lowest rate always the cheapest?

Not necessarily. The true cost of a mortgage depends on the interest rate, the product fee, what the rate reverts to after any fixed period, early repayment charges and how long you keep the deal. A higher rate with no fee can beat a lower rate with a large fee, especially on smaller loans. A regulated mortgage adviser can compare real products against your circumstances.

Compare Two Mortgages Calculator

The lowest headline rate is not always the cheapest deal once the product fee — and the rate it reverts to — are counted. Compare two deals side by side, during the fixed period or across the full term. Figures are illustrative and not a quote or mortgage offer.

For illustration purposes only

The figures this calculator produces are illustrative and based only on the information you enter. They are a guide — not a quote, a mortgage offer, or financial advice. What you can actually borrow, and the rate you pay, depend on the lender’s assessment of your full circumstances.

Speak to a qualified professionalFor a recommendation tailored to you, speak to an FCA-regulated mortgage adviser — we search the whole of market. Checking your options is free and does not affect your credit score.

No obligationThis is an estimate only. The binding figures — your real monthly payment, total cost and any reversion rate — come with your mortgage offer and its illustration (ESIS).

Niche Advice Limited accepts no responsibility for any decisions made on the basis of this calculator. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority (FCA Reference: 750263). Niche Advice Limited is a credit broker, not a lender. Your home may be repossessed if you do not keep up repayments on a mortgage secured against it.

Lender criteria and interest rates change frequently. Always confirm any figure with a qualified, FCA-regulated mortgage adviser before acting on it.

Get advice from a whole-of-market specialist

This is a guide only. For figures tailored to you — with no upfront fees — request a callback from an FCA-regulated adviser.

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