inez_equity
Buyer
I need to choose between mortgage offers soon, and the trade-off is whether ten years of payment certainty is worth the restrictions and full cost. The Oslo purchase is around NOK 5,832,000, with one lender quoting 5.88% fixed for 10 years.
The headline figure does not tell me enough because fees and the applicable loan-to-value band affect what I would actually pay. Should I compare each offer over the same 10-year period using all scheduled payments and charges, while keeping APR as a secondary check?
I also need to know what happens if plans change. For example, if I sell in year five, I want each lender to show the early-settlement calculation and whether the loan can move to another property. The payment is affordable now, but I do not want to assume favourable refinancing later. What else should I request in writing before choosing?
The headline figure does not tell me enough because fees and the applicable loan-to-value band affect what I would actually pay. Should I compare each offer over the same 10-year period using all scheduled payments and charges, while keeping APR as a secondary check?
I also need to know what happens if plans change. For example, if I sell in year five, I want each lender to show the early-settlement calculation and whether the loan can move to another property. The payment is affordable now, but I do not want to assume favourable refinancing later. What else should I request in writing before choosing?