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Mortgage Calculator 

Example 1

If we assume that you pay your mortgage broker’s fees separately, which means they’re not added to your mortgage loan, the interest rate and APR will be the same.

Example 2

If you have broker’s fees added to your mortgage loan, the situation becomes a little more complex. In this instance, we will assume that total mortgage costs of £2000 on a £100,000 mortgage, with a headline interest rate of 5%.

Mortgage loan: £100,000

Fees: £2000

Total mortgage: £102,000

Annual interest: 5% x £102,000 = £5100

APR: 100 x (£5100/£100,000) = 5.1%

So while the headline mortgage interest rate is 5%, the annual percentage rate (APR) is actually 5.1% after taking into account fees.