Compare Mortgages Calculator
Which deal really costs less? Our compare mortgages calculator puts two deals side by side, fees and cashback included, and shows the total cost over the deal period. It also shows whether a lower rate with a bigger fee is worth it for your loan size.
- Total cost over the deal, not just the rate
- Is the product fee worth it?
- Fee upfront or added to the loan
Is the fee worth it at your loan size?
How much less Deal B costs than Deal A over the deal period, at different loan sizes. Above the green line, Deal B costs less. Below it, Deal A costs less. Move along the graph, or drag the slider, to try a different loan amount.
| Over 2 years | Deal A | Deal B |
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Things the numbers don't show
- Early repayment charges: check what you'd pay if you needed to leave either deal early.
- Overpayments and moving: deals differ in how much you can overpay and whether you can take the mortgage with you if you move.
- The APRC: every mortgage shows one. It includes fees, but assumes you keep the mortgage for the whole term.
- What happens at the end: after the deal period you'd usually move to the lender's standard variable rate unless you choose a new deal.
This compares the figures you enter. It isn't a recommendation of either deal. For a personal recommendation, speak to an FCA-authorised mortgage adviser.
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We'll send a copy of your comparison to keep. If you already have a mortgage, add your deal end date and we'll remind you before it ends.
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How the compare mortgages calculator works
A simple, open method, so you can see exactly where the numbers come from.
Add up what you pay
We add up the monthly payments over the deal period, plus any fees you pay upfront, and take off any cashback.
Allow for what you've repaid
Part of each payment reduces your loan. We take that off, so a fee added to the loan shows up as a bigger balance at the end.
Find the break-even
We work out the loan size where both deals would cost the same, so you can see when a bigger fee for a lower rate pays off.
Comparing mortgages: common questions
Is the lowest rate always the cheapest mortgage?
Not always. MoneyHelper points out that an upfront fee may get you a lower rate but might not save you money overall. Comparing the total cost over the deal period, including fees and any cashback, gives a fuller picture than the rate alone.
When is a product fee worth paying?
A bigger fee for a lower rate tends to pay off on bigger loans, because the rate saving is worth more each month. On smaller loans, a fee-free deal at a slightly higher rate can work out cheaper. The graph shows the loan size where the two deals cost the same.
Should I add the fee to my loan?
Adding a fee to your mortgage means you don't pay it upfront, but you pay interest on it and it's added to what you owe. This calculator shows the effect as a higher balance at the end of the deal. Whether it suits you depends on your circumstances.
What is the APRC?
The annual percentage rate of charge shows the yearly total cost of a mortgage, including fees and charges, and lenders must state it. It assumes you keep the mortgage for the whole term, so it's most useful for comparing like with like.
What else should I compare?
Look at early repayment charges, how much you can overpay each year, whether you can move the mortgage to a new home, and what rate you'd move to when the deal ends. This calculator only compares the costs you enter.
Our calculators give illustrative figures based on what you enter. This isn't a mortgage offer, and it isn't a recommendation of any deal. Mortgage Owl provides general educational information only, not regulated financial advice, and doesn't recommend particular mortgages, lenders or deals. Your home may be repossessed if you do not keep up repayments on your mortgage.
