Planning your mortgage carefully can save you thousands of pounds, so why pay more if you don't have to?

1. Choosing a Mortgage Lender
2. About APR

Information and links to mortgage comparison tools

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Choosing a Mortgage Lender

Your choice of mortgage provider can save you thousands of pounds. As a house buyer, you could potentially make the most costly investment of your life. With over 150 lenders out there offering thousands of different schemes to choose from, which mortgage deal do you choose?

The result of this decision typically takes us 25 years to pay back, with interest. So who will give you the best incentives to spend your money and what are they?

Finance Surgery has all the independent facts about mortgage deals available to you. The real cost of your mortgage is determined by many factors including the APR charged on your mortgage, repayment methods and mortgage accounting methods used to calculate your monthly repayments.

About APR

APR is the annual percentage rate, but how does APR affect you?

As the prospective borrower it is essential to make an informed decision on price and product implications, the annual percentage rate (APR) can be used to compare interest rates and charges for credit between lenders.

So why is APR not always the true rate?

APR is calculated with a complex formula using some of the costs of setting up a loan. Though only by calculating the TCC, the Total Charge for Credit is the true cost of borrowing reached. Therefore APR is fine for comparing simple products, however a more complex product requires a more thorough breakdown of costs.

See also:
Methods of Repayment   |  Mortgage accounting methods