Moneymate Mortgage rates table query

M

metromary

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I've been checking the moneymate table in March Irish Property buyer and am a bit puzzled. Bank of Scotland 1 yr discounted tracker with LTV <50% gives Annuity rate 3.50%, but APR 4.39, can this be correct? Also, where I've always thought that the most important table for someone thinking of switching mortgage provider, is the cost per thousand. AIB standard tracker LTV<=50%, with APR 4.17 has a cost per 000 of 6.10, NIB tracker<60%, with APR 4.38 has a cost per 000 of 6.06. I'm getting really confused at these peculiarities. How do you really know which is best?
Mary:confused:
 
Cost per thousand (CPT) is based on the interest rate offered and not the APR.
Note that the CPT refers to the discounted interest rate (usually lasts 1-2 years) and not the rate it reverts to once the discount has expired.


APRs on discounted rates take in both the discounted rate and the rate it reverts to after the discount period has ended.
 
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