L&C annual cost

Comparing mortgages isn’t easy. Sometimes deals look attractive because they have a low initial rate, but you also need to take into account any fees that come with the mortgage deal. We recommend **annual cost** as the best way to see which mortgage deal offers the best value for the size of mortgage you’re looking to take.

This is how we calculate the annual cost:

- We add up all the fees associated with the mortgage deal and deduct any cash back to find
**total fees** - We then divide the total fees by the number of months the initial mortgage rate lasts to find the
**total fees per month** - We add the total fees per month to your
**monthly mortgage payment**and multiply by 12 to calculate the**annual cost**

By comparing mortgage deals looking at annual cost you can see which one would be cheapest for you taking into account fees as well as the interest rate. The annual cost only applies to the initial deal as its always best to consider switching once the initial deal is over to see if you could save money.

This is the representative APRC provided by the lender

Who is lending the money and what sort of mortgage is it.

The rate you will pay at the start of your mortgage.

Your monthly payment when your mortgage starts, based on the loan amount you entered.

The total of the lender's booking, arrangement and valuation fees.

The annualised cost of this mortgage.

Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

We're here to offer our customers excellent fee free mortgage advice. Our expert advisers will help you secure the best mortgage deal whether you're a first time buyer, remortgaging your home, buying to let or moving up the property ladder. We'll help you throughout the mortgage process – no hidden costs or surprises, just straightforward, honest, mortgage advice.

Representative example A mortgage of £198,054 payable over 22 years, initially on a fixed rate until 31/01/20 at 1.94% and then on a variable rate of 3.75% for the remaining 20 years would require 27 payments of £921.72 and 237 payments of £1,083.93 The total amount payable would be £282,678 made up of the loan amount plus interest (£83,714) and fees (£910). The overall cost for comparison is 3.5% APRC representative.

London & Country Mortgages Ltd, Beazer House, Lower Bristol Road, Bath, BA2 3BA is a company limited by shares. Our Companies House number is 1988608. We are also authorised and regulated by the Financial Conduct Authority. Our FCA number is 143002. The FCA does not regulate most Buy to Let mortgages.

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