Translate A Mortgage Offer Document Into The Numbers That Matter

A mortgage offer arrives as several pages of small print and the headline rate on page one rarely tells the full story about what happens after year two. Paste the document in and get the real rate, the total cost over the term, any early repayment penalty, and what the rate becomes afterwards, all in plain English. Suits anyone about to sign a mortgage offer for the first time.

Paste the text of a mortgage offer or key facts illustration below. Translate it into plain English: the actual interest rate and whether it is fixed or variable, the total cost over the full term, any early repayment charge, and what happens to the rate after any introductory period ends. Keep the summary under 200 words and flag anything unusually restrictive.

Mortgage offer text: {MORTGAGE_OFFER_TEXT}