Historical guide: written for the circumstances and rules of January 2026. This article forms part of our backdated information archive; it is not a live product quotation.
The mortgage with the lowest advertised rate is not always the mortgage with the lowest cost for you. Fees, incentives, the size of the loan and how long you keep the deal can change the result. If you are comparing mortgage rates in January 2026, give yourself a consistent set of numbers first. Otherwise, it is easy to compare two products that look similar but solve quite different problems.
Compare like with like from the start
Use the same loan amount, repayment method and mortgage term for each illustration. Check that the products are available for your deposit or equity band and property type. A rate advertised at a lower loan to value may not be available to someone borrowing more of the property's value. Also distinguish the initial deal length from the full mortgage term. A two-year fix on a 30-year mortgage is not a two-year loan, and a five-year fix brings a different period of certainty and potential exit restrictions.
Add the costs over the period you expect to keep it
For a meaningful initial comparison, look at payments during the deal period plus upfront costs, allowing consistently for incentives. Include lender arrangement fees, valuation and legal costs where payable and the applicable broker fee. Check how much capital remains at the end too: the lowest outgoings can hide a higher outstanding balance. If fees are added to the mortgage, account for their interest and remaining balance rather than treating them as if they disappeared. A transparent illustration should show the assumptions so you can challenge or change them.
A lower rate can lose on a smaller loan
Imagine two otherwise comparable products with different rates and different upfront fees. The potential interest saving from the lower rate generally grows with the loan size, while a fixed cash fee does not. A product that makes sense for a large balance may therefore be poor value on a smaller mortgage. There is no universal break-even balance because the rate gap, repayment profile and time period vary. Ask for a personalised comparison rather than adopting a product because someone else with a very different loan says it was cheapest for them.
Incentives and fee packages need detail
Cashback, lender-funded legal work and included valuations can be useful, but their value depends on what you would otherwise pay and whether the package suits the case. Additional legal work may not be covered, and cashback might only arrive after completion. Do not rely on it for money needed earlier in the transaction without checking timing. If you select your own conveyancer instead of a lender package, confirm panel membership and costs. An incentive is part of the total calculation, not evidence that a product is automatically better or suitable.
APRC is useful, but not the only comparison
The annual percentage rate of charge gives a standardised illustration of borrowing costs under stated assumptions over the mortgage's life. It often includes an assumed period on the lender's follow-on rate after the initial deal. That makes it useful context, but it is not a prediction of what you will actually pay if you change products later. Read the mortgage illustration and compare the period relevant to your plans as well. Neither the lowest APRC nor the lowest introductory rate automatically establishes the most suitable mortgage.
Think about leaving or changing the deal
Early repayment charges, overpayment limits and portability can matter as much as a small rate difference. If you may move home during a fix, ask what porting requires and what happens if the lender will not approve the new borrowing. If you expect to repay a large lump sum, check the allowance and timing. Trackers and discounted variable products introduce different payment risks from fixed rates, so avoid comparing them solely on today's payment. A product that is inexpensive only if your plans never change may not fit your circumstances.
Make the final decision about your whole situation
A comparison website can provide a useful starting point, but it cannot always settle eligibility, lender underwriting or the implications of unusual income and property details. We can explain the available options and the trade-offs rather than simply point to a headline. Easy Mortgages' standard broker fees are £299 for a remortgage, £495 for a purchase and £895 for specialist work where applicable; product transfers and protection carry no broker fee. Ask for the applicable fee and total-cost assumptions in writing before you proceed with any recommendation.
Talk it through with Easy Mortgages
If you would like to understand how this relates to your own plans, contact Easy Mortgages for an initial conversation. We can explain the next steps and the information a personalised review would need, without assuming a particular product is right for you.
This is general information, not personal mortgage, insurance, legal or tax advice. Rules, lender criteria and products can change after January 2026. Any recommendation requires an assessment of your circumstances. Your home may be repossessed if you do not keep up repayments on your mortgage or other borrowing secured on it.