Worked out forMoney off the price against deposit contribution
Over 5 years, on a 30-year repayment mortgage
The two offers
ComputedOffer A leaves you £2,830 better off over five years.
| Offer A | Offer B |
|---|
| Price you pay | £330,000 | £340,000 |
|---|
| Cash on the day | £41,180 | £32,680 |
|---|
| Monthly payment | £1,662 a month | £1,713 a month |
|---|
| Upgrades, at what you would pay | £0 | £0 |
|---|
| Cost over five years | £75,042 | £77,872 |
|---|
Money off lowers the price, the loan and the stamp duty. A deposit contribution, stamp duty, fees or cashback lower the cash you need on the day. Cost over five years is everything paid, less what you own of the home after five years (valued at its price before any offer, whichever offer bought it) and the upgrades at what you would pay for them.