How should I compare this 7.74% two-year fixed quote?

[FreshBirch]

Paying more upfront for flexibility feels uncomfortable, but so does choosing the cheapest Mumbai offer and finding myself trapped by its exit terms. The property price is around ₹91,850,000, and one mortgage quote is fixed at 7.74% for two years. Once fees and the applicable lending tier are included, the headline comparison is much less useful.

The monthly payments are close, so I want to compare what leaves my account during those two years, the balance remaining afterward and any charge for repaying or moving the loan early. I also need a reset-rate case that does not depend on refinancing being easy. What figures should I request so every lender is working from the same loan amount and assumptions?

 

[sasha_keel]

For a two-year decision, I would calculate the total cash leaving you during those 24 months: repayments, upfront fees and any fees added to the loan. Then compare the estimated balance remaining at the end. APR can help, but it may not reflect your likely holding period as clearly.

Also run the payment after the fixed period at a higher reset rate. Otherwise the cheapest first two years may only look cheap because the calculation assumes an easy refinance.

 

[FairBeam]

I’d be cautious about reducing it to a 24-month cash total. If one offer has restrictive early-repayment or portability terms, that matters even if you currently expect to keep the loan for two years.

What is the actual loan amount and LTV, rather than the property price? Also, are the arrangement fees paid upfront or financed? Those details could change both the comparison and monthly affordability. I’d ask each lender for figures on the same loan amount, term and repayment assumptions.