Mortgage Comparison

The small print you need to pay close attention to

Mortgage comparison is about more than just the interest rate. Check the small print carefully and compare everything from arrangement fees to early repayment penalties. If you look closely at the terms and conditions you may well find that the perfect mortgage isn't so perfect after all.

To make a successful mortgage comparison you need to look beyond the interest rate. There could be some nasty surprises in the small print, and the differences between different lenders' products could make one mortgage much more attractive than another.

When you make a mortgage comparison, start with the obvious stuff: the interest rate, the arrangement fee, the valuation fee and any other essential costs. You'll be surprised by the differences between mortgages: some firms charge very low valuation fees, others take your wallet and squeeze it until it squeaks.

Mortgage comparison isn't just about the basic fees, though. Most lenders charge a penalty if you switch your mortgage to another firm, so make sure you're comparing like with like. The same applies to fixed interest rate periods: some lenders offer two years, others three, still others, five.