01 · Key points
What matters for this topic
Match loan amounts and terms
Consider nominal and effective rates together
Compare debt remaining after the fixed-rate period
Assess overpayments and repayment-rate changes
Include drawdown and disbursement terms
02 · Context
Comparability before price
Two offers are comparable only if the loan amount, disbursement, repayments, fixed-rate period and calculation date match. Otherwise, a price advantage may be misleading.
03 · Context
Remaining debt shows the long-term effect
The monthly payment alone says little. Lower repayments reduce the initial burden but may increase remaining debt and future exposure to interest rates.
04 · Context
Contract details have real value
Overpayments, repayment changes, long drawdown windows or flexible disbursement may become more important than a few basis points of interest.
05 · Be prepared
Points you should not underestimate
- Offers based on different assumptions
- Low payments due to low principal repayment
- Overlooking extra costs or account conditions
- Approaching only your usual bank
- Ignoring rate changes between offer dates
06 · Documents
Commonly required documents
The documents actually needed depend on the lender, your plans and personal circumstances. The following are often useful for preparation:
07 · Practical example
What an assessment might look like
Offer A has a lower nominal rate but higher remaining debt and a shorter commitment-interest-free period. Offer B may suit the building project better economically despite a slightly higher rate.
This example is illustrative only and is not a mortgage commitment or quotation of terms.08 · Frequently asked questions
Questions about Comparing mortgage offers
Is the effective rate enough for comparison?+
It matters, but does not fully capture flexibility, remaining debt or every project circumstance.
How many lenders are compared?+
The highest number is not the goal. A broad, suitable selection with comparable information matters more.
Is my usual bank often cheapest?+
It may have a good offer, but should be compared on the same basis as every other lender.
Important information
The information on this page is general. It does not replace individual mortgage, legal or tax advice and is not a binding credit commitment. Requirements and terms are assessed individually.