Should I choose a shorter or longer mortgage term?

A shorter term means higher monthly payments but much less total interest. A longer term reduces monthly payments but increases total cost. Use this tool to see the trade-off for your specific figures.

Fixed vs variable — which is better?

Fixed rates offer certainty; variable rates can save money if rates fall but carry risk if they rise. Your choice depends on your risk tolerance, financial cushion, and your view of future interest rate movements.

Why does a small rate difference matter so much?

On a £200,000 mortgage over 25 years, the difference between 3% and 4% is around £29,000 in total interest. Even 0.5% can mean thousands of pounds over a full mortgage term.

Mortgage Comparison Tool

Compare two mortgage deals side by side — fixed vs variable, different lenders, or different terms. See the monthly payment, total repayment, total interest, and saving for each option.

How it's calculated

Monthly Payment = P × r(1+r)^n ÷ ((1+r)^n − 1)
where P = loan amount, r = monthly rate, n = total months

Frequently Asked Questions

Should I choose a shorter or longer mortgage term?: A shorter term means higher monthly payments but much less total interest. A longer term reduces monthly payments but increases total cost. Use this tool to see the trade-off for your specific figures.
Fixed vs variable — which is better?: Fixed rates offer certainty; variable rates can save money if rates fall but carry risk if they rise. Your choice depends on your risk tolerance, financial cushion, and your view of future interest rate movements.
Why does a small rate difference matter so much?: On a £200,000 mortgage over 25 years, the difference between 3% and 4% is around £29,000 in total interest. Even 0.5% can mean thousands of pounds over a full mortgage term.