How do they calculate APR for fixed rate mortgages?

now that Haven are offering a 3.5% 1 yr fix to existing customers i'm considering taking it

The 1 year fixed rate is 3.5% with an APR of 4%, my current SVR of 3.97% has a 4.1% APR

By my own calcs a change in rate from 3.97% to 3.5% will save me c€130pm but how would the APRs affect this?

23 years and about €522k remaining, €150pm MIR

thanks

Don't bother with APRs when looking at fixed rate.

In very simple terms. If you have 20 years left and you fix at 8% for 10 years when the variable rate is 4%, they will tell you that the APR is 6%.

Brendan

makes sense, thanks Brendan

Compare the CPT, cost per thousand, what you repay for each thousand borrowed, it's the bottom line.