Start with the total amount repayable
The total amount repayable is the clearest single figure. It includes interest and compulsory fees over the full term.
Then check the five details
- Fees: arrangement, broker, valuation and legal
- Term: longer terms lower the payment but raise the total
- Rate type: fixed or variable
- Early repayment: how much it costs to settle early
- Payment holidays and flexibility
Use the same term when comparing
A loan over three years and a loan over five years are not comparable on monthly payment alone. Compare them over the same term, then decide what monthly payment you can comfortably afford.
Try our calculator
Our loan calculator shows the monthly payment, total interest and total repayable for any amount and term, using illustrative rates.
Common questions
Are broker fees included in APR?
If a fee is compulsory to get the loan, it must be included in the APR.
Is a variable rate ever better?
It can be cheaper if rates fall, but your payments can rise. Fixed rates give certainty.
This guide is general information, not personal financial advice. If you are worried about debt, free help is available from MoneyHelper, StepChange and Citizens Advice.
Try it: APR Calculator