Mortgage Offer Comparison Spreadsheet

Who this is for

Mortgage offers side by side. Enter the figures each lender or broker has quoted you, one offer per row, and the sheet adds up what you would pay over each initial period, payments and fees together. The lowest and highest totals appear in the summary.

Buyers and remortgagers holding more than one quote, whether from a broker, a bank or a comparison site, who want the true cost of each laid out the same way.

What this helps you track

• The loan amount, term and property price the quotes are based on
• Each lender's product, initial period and quoted monthly payment
• The arrangement, valuation and other fees for each offer
• Early repayment terms and when each offer expires
• The total paid over the initial period, for a like-for-like comparison

How to use it

1. Write the loan amount, the term and the property price at the top so every quote is compared on the same basis.
2. Give each offer a row: lender, product type, the length of the initial period in months and the monthly payment exactly as quoted.
3. Enter every fee attached to the offer, including any that can be added to the loan.
4. Note the early repayment terms and the date the offer expires.
5. The total over the initial period is worked out in the browser and the workbook; on paper, multiply the payment by the months and add the fees.
6. Compare the totals, then check the offer documents themselves before you decide.

Formats

• Printable PDF (A4 and US Letter)
• Fillable PDF with form fields
• Fill in online, saved in your browser
• Excel / Google Sheets workbook

The printable is laid out inside a box that fits both A4 and US Letter, so the two files are identical and neither one is scaled. The fillable PDF has real form fields. The workbook uses plain formulas only — SUM, IF, COUNTIF and the like — so it opens in Excel, LibreOffice and Google Sheets without anything breaking, and every calculated cell is grey so you can see which figures it worked out.

How to print

Download the A4 or US Letter file to match the paper in your printer, open it in a PDF reader and print at 100% — not "fit to page", which shrinks the writing space. Both files leave a 14 mm margin, which clears the unprintable edge on home printers. To print the online version with your entries in it, use the Print this sheet button, which prints only the sheet and none of the page around it. More on printing.

Questions

Why compare the total over the initial period rather than the rate?

A lower rate can come with higher fees. Adding the payments for the initial period to the fees gives one figure per offer that takes both into account. It uses only the numbers you have been quoted.

Does the sheet work out my monthly payment?

No. It uses the monthly payment each lender or broker has quoted you, which already reflects their rate and terms. That avoids the sheet guessing at how a lender calculates interest.

What about the cost after the initial period ends?

That depends on the rate you move to, which is not usually known in advance. Note the follow-on terms in the early repayment column or the notes, and compare them separately.

Is this financial advice?

No. It is a way of laying out figures you already have. Speak to a qualified adviser where you are if you need advice on which mortgage suits you.