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Originally posted by TheCyclingProgrammerView Post
It works out:
* Total cost of fees (admin, transfer fees, booking and arrangement fees and valuation)
* Monthly payment
* Mortgage balance at the end of each year (it supports 2 - 5 year fixes)
* Total equity after 2 or 5 years (initial deposit + capital repayments)
* Total cost over fixed period (interest + fees)
If the mortgage deal has any kind of cash back or incentive, stick it in admin fees as a negative amount.
When comparing, I was mainly interested in the total cost over the fixed period - up front costs were not an issue as we've budgeted for them however if you haven't then take this into consideration. The cheapest deal might not necessarily be the cheapest monthly payment either but the range is small so shouldn't really make a big difference to your decision IMO.
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