Mortgage-UK - Version 1.4 Mortgage-UK calculates the true cost of a mortgage andallows you to compare the effect of different interestrates and overpayments. It is designed for the UKmarket, but may work for other country's mortgagesystems. It runs on all versions of Windows. Use Mortgage Manager to create an icon for eachmortgage you are evaluating, then enter values such asthe mortgage amount, fixed/discounted/capped/cashbackrates and the interest calculation period as well asone-off administration costs. Payment details are thencalculated with a month-by-month break-down of thepayments and the running total. You can modify theinterest rate and add over-payments to see their effecton the costs. Different mortgages can then be comparedto see which is cheapest over various periods of time. But why do you need it? Because it's not possible toknow which mortgage is cheapest just from the headlineinterest rate. Try this: Which is cheaper over 25years? (1) A 3 year fixed rate of 4.5% with a setup feeof 300 and then a variable rate of 5.5%, or (2) A 5year fixed rate of 5.0% with a setup fee of 200 andthen a variable rate of 5.5%? If you don't know, thenyou need Mortgage-UK to save you money. When you choose a mortgage it is easy to just pick theone with the lowest rate. This is not always a wisechoice however since factors such as setup fees,redemption penalties and the variable interest rate allhave a significant effect on the overall cost. The onlysure way to find the cheapest is to calculate thepayments under the different interest rates, add themup and add on the fixed costs. Not much fun when youconsider the hundreds of mortgages on the UK market andthe mathematics behind them. Mortgage-UK can do allthis for you and could save you thousands!