Compare Mortgage APRs in the UK

The APR (Annual Percentage Rate) is a way of leveling the playing field by providing a true comparison between different loans. It includes the cost of any "hidden" charges.

So, say for example that there are two lenders with the same Headline Interest Rate for a 25 year loan. One of them may force you to pay for a mandatory survey of your property every ten years. But they don't exactly make it clear when you take out the loan. However the calculation of APR should include the cost of this.

The APR takes all the costs into account: the application fee, the mortgage lenders valuation and so on.

So don't just look at the "Headline Interest Rate". Ask the lender for the APR on a particular loan.

Oddly the best buy mortgage tables you'll see in the press and on some websites often don't mention the APR but focus instead only on the "headline interest rate". When you start to add all the "arrangement fees" that the lender wants to charge you for the fantastic mortgage deal, suddenely it's not such a great deal after all.

Simple answer: Ask "What exactly is the APR on your 2 year pink flamingo fantastico mortgage (or whatever they call it).

If the person in the call centre doesn't give you a straight answer quickly, then tell them you think they are breaking the law and will be calling their local trading standards office. Good luck with getting their name....

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below

Important note about your credit rating

Many websites don't make it clear that filling in their mortgage enquiry form means you might be credit checked.

This can put you at risk.

UK Mortgage lenders may assume an enquiry you have aleady made to another lender means you were turned down - and not that you are in fact carefully shopping around and rejecting the bad deals.

The best way around this significant problem is to ask an independent mortgage adviser to make anonymous enquiries for you.

Without risking your credit score an adviser can find you the best available mortgage deal. They will also know how likely you are to be accepted by the lender if you decide to make a formal application.

If you would like a recommended adviser to check out the best deals for you, anonymously, simply fill in the quick form below.

" Hmm..." You might think; "Won't I be hounded by a salesman hungry for my business? "

This is the most common question we hear from our users.

The answer is no you won't.

Firstly your enquiry is only passed to ONE person on a carefully vetted list of independent advisers.

Secondly, these mortgage advisers are professionals. Even when the market is slow they are busy people. There many people who need to move homes, or get a remortgage and are looking for advice all the time. Regardless of the state of the property market, life goes on.

So the advisers don't have time to hassle people. It just doesn't work like that. No one is gong to be forced into taking out a mortgage unless they really need one.

The advisers are very used to talking with people, perhaps like yourself, who are only "dipping their toes" into the water.

Many people just want an initial quick chat and if they feel comfortable will ask the advisor to contact them again later - often in several weeks or months. As a professional, the adviser will simply diarise this and call back at the appropriate time. There is no obligation at all.

(In the unlikely event that you ever feel at all "hassled" by someone on our list please let us know immediately. We have never heard of this. But if it happened we would definitely want to know).

How to Choose your Mortgage
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How to Compare Mortgages

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Mortgage Guide
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Mortgage Basics

The APR

Important note about your credit rating

How to Choose your Mortgage
Click for Full Contents

How to Compare Mortgages

Browse over 200 Free Mortgage Tips

Site Help

Mortgage Guide Click for Full Contents

Mortgage Basics

The APR

Important note about your credit rating

How to Choose your Mortgage Click for Full Contents

How to Compare Mortgages

Browse over 200 Free Mortgage Tips

Site Help

Mortgage Guide
Click for Full Contents

How to Choose your Mortgage
Click for Full Contents