Compare Mortgage Deals
Explore and compare the most competitive mortgage rates from over 90 lenders across the UK, including exclusive offers from L&C. You can even subscribe to receive the deal of the week directly to your inbox.
Understanding Mortgage Comparisons
Comparing mortgages can be challenging. While some offers appear attractive due to a low introductory rate, it’s essential to evaluate the full cost of the mortgage, including any associated fees.
How to Measure True Value
The annual cost method is the most accurate way to assess which mortgage offers the best overall value for the amount you intend to borrow. This calculation takes into account both the interest rate and any fees you’ll pay.
The annual cost only applies to the initial deal, and it’s often advisable to review your options once that deal ends to potentially save money.
Factors Affecting Borrowing Capacity
The amount you can borrow depends on several factors, notably the lender’s specific criteria. Our brokers successfully placed mortgages with 59 different lenders last year, enabling us to match borrowers with suitable lenders based on individual requirements.
Sometimes you may be able to borrow more than an online calculator suggests, and that’s where our specialist knowledge becomes valuable.
Key Points to Consider
- Low initial rates can be misleading without factoring in fees.
- Annual cost provides a realistic view of value.
- Each lender assesses borrowing potential differently.
- Expert advice can help secure more favorable terms.
Author’s summary: Comparing mortgage deals using annual cost helps borrowers find the best overall value and avoid hidden expenses while identifying the most suitable lenders.