When you are looking to arrange a mortgage it is a difficult job comparing a number of mortgages with different introductory rates, introductory periods and set up fees. But I have stumbled across a useful online calculator that can compare the true cost of up to 4 mortgages with different fees and interest rates - True Cost Calculator.
How to use it
Just enter details of the mortgage amount and term in years together with details regarding set up fees, introductory period and post introductory period interest rates for the different deals and click the calculate button. The results will appear in both table and graph form making the job of comparing up to 4 different mortgages a whole lot easier.
A word of warning
Clearly the aim of the tool is to entice people to do business with the company that hosts it, but just ignore all the adds and links that surround it. As a simple tool it's pretty useful and I've yet to come across a better one that can do similar. If you know of one then feel free to post details of it in the comment box below this article.
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