19/10/2026
🏡 𝙞𝙩’𝙨 𝙛𝙤𝙧 𝙧𝙚𝙖𝙨𝙤𝙣𝙨 𝙡𝙞𝙠𝙚 𝙩𝙝𝙞𝙨 𝙩𝙝𝙖𝙩 𝙄 𝙨𝙖𝙮 𝙖𝙙𝙫𝙞𝙘𝙚 𝙞𝙨 𝙨𝙤 𝙞𝙢𝙥𝙤𝙧𝙩𝙖𝙣𝙩
I could give all sorts of examples of real life last week, not just with mortgages,but protection too.
The conversation with this mortgage client really stood out to me from last week. They had been looking online and spotted some good deals with a particular lender.
Here’s what we were comparing:
🏡 Option 1
5.09% interest rate
£995 product fee
£500 cashback
🏡 Option 2
5.13% interest rate
NO product fee
NO cashback
Looking at those two, which would you choose? 🤔
My client initially preferred the first option. Lower interest rate AND £500 cashback. Sounds like a good deal, doesn’t it?
But when we actually looked at the figures, the 5.13% deal would only cost around £257 more in monthly payments over the fixed-rate period.
The difference?
With the first deal, we’d also have a £995 fee to pay or add to the mortgage, potentially paying interest on that fee too.
Even after factoring in the £500 cashback, the fee-free option worked out more cost-effective based on the figures we discussed. But initially my client felt the cashback was great as it would give them some money towards the car they were saving for.
We also talked about plans to continue overpaying the mortgage and how that fitted into the decision.
This is exactly why mortgage advice is about so much more than finding the lowest interest rate.
It’s about looking at the whole picture, understanding your plans and working out what actually makes financial sense for YOU… Because the deal that looks the best online isn’t always the best deal for your circumstances.
👱♀️ 𝒢𝒶𝓎𝓃𝑜𝓇
☎️ 07535 113774
📧 [email protected]
𝙈𝙇 𝙈𝙤𝙣𝙚𝙮|𝙏𝙧𝙪𝙨𝙩𝙚𝙙 𝙈𝙤𝙧𝙩𝙜𝙖𝙜𝙚 & 𝙋𝙧𝙤𝙩𝙚𝙘𝙩𝙞𝙤𝙣 𝘼𝙙𝙫𝙞𝙘𝙚
