How to compare mortgage deals in the UK
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Quick answer: Compare mortgages on APRC (cost over the deal plus revert period), arrangement fees, early repayment charges, loan-to-value band and portability — not headline interest rate alone. A low rate with a £1,500 fee can cost more than a slightly higher rate with free legals over five years.
Mortgages are secured regulated loans. Comparison sites and brokers quote on similar LTV bands, but fees and revert rates differ. This hub explains fair comparison for purchases and remortgages — not personal advice on which lender to choose.
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Read the full mortgages & first homes guide →Quick answer: Compare mortgage deals →Primary source: www.fca.org.uk/consumers/mortgages
APRC, fees and true cost
Headline rates assume specific LTV and property value. Your band may price higher.
Add arrangement fees, valuation and legal costs to five-year cost comparisons — free legals on remortgage deals reduce switching friction.
Cashback deals can beat fee-free products on small balances but rarely on large loans.
Fixed, tracker and revert rates
Fixed rates give payment certainty; trackers follow Bank Rate with a margin — often no ERC on trackers but payments fluctuate.
At deal end you revert to the lender's SVR unless you product-transfer or remortgage — SVR is usually expensive.
Compare the revert rate assumption inside APRC — a cheap two-year fix reverting to a high SVR can cost more than a five-year fix.
Remortgage vs product transfer
Product transfer stays with your lender — faster, often no solicitor, but you may not access the cheapest market rate.
Remortgage to a new lender can unlock better pricing plus free valuation and legals — full underwriting and credit check required.
Portability lets you move the deal to a new property if the lender approves — important if you may relocate within the fix.
Common questions
Should I use a broker or compare direct?
Whole-of-market brokers access lenders not on comparison sites. Direct deals sometimes beat broker panels. Either route should disclose fees.
Do ERCs apply on overpayments?
Most fixes allow 10% annual overpayment without ERC. Larger lump sums may trigger charges — check your offer letter.
How far ahead can I lock a rate?
Mortgage offers typically last three to six months — useful when buying or remortgaging ahead of a deal end.