The surprise was that the cheaper-looking mortgage became much less attractive once the full quote arrived. For a Stockholm purchase of about SEK 10,240,000, I have been offered 6.51% fixed for one year after a 58-day process, with fees and the loan-to-value band affecting the real cost.
I want to compare offers using more than the headline rate. My table currently needs the monthly payment, interest over the fixed year, arrangement charges, total cash paid, early-repayment conditions and portability. I’m also unsure what refinancing rate to test after year one, since an easy assumption there can reverse the apparent saving.
Would you compare everything over the one-year fixed period, or also model several post-fix scenarios? I’m particularly interested in how others display fees and a possible rate reset without letting a single APR figure hide the timing of those costs.
I want to compare offers using more than the headline rate. My table currently needs the monthly payment, interest over the fixed year, arrangement charges, total cash paid, early-repayment conditions and portability. I’m also unsure what refinancing rate to test after year one, since an easy assumption there can reverse the apparent saving.
Would you compare everything over the one-year fixed period, or also model several post-fix scenarios? I’m particularly interested in how others display fees and a possible rate reset without letting a single APR figure hide the timing of those costs.