Which is the better deal?

(A) 1.3% with a £499 fee for 24 months

(B) 1.42 with zero fee for 24 months

It seemed obvious – it has to be (A) because it has the lowest interest rate, right? So much for my expertise. It turned out Carla was right with (B).

But how do you know for sure?

I found these calculators invaluable:

• https://www.thisismoney.co.uk/money/mortgageshome/article-1633400/Mortgage-calculator-Compare-true-cost-rates-fees.html

• https://www.landc.co.uk/calculators/compare-two-rates/

If you’re choosing a mortgage for the long term, then yes, interest rate is king. But who does that? Most of us choose the special low rate deal for 2 years then switch. It turns out that paying that £999+ to secure the low interest rate doesn’t always pay off.

Find more mortgage related money saving tips in my 5-star rated book on Amazon: here!