The ESIS (European Standardised Information Sheet) is the document that lenders must provide before you commit to a mortgage offer. It contains everything you need to compare deals properly, but its format is dense and the terminology is opaque. Here is how to actually read it.\n\nSection 1: The Lender — Identifies the lender, their contact details, and the regulatory information. Check that the lender is FCA-authorised (you can verify on the FCA register at register.fca.org.uk).\n\nSection 2: Key Features — This is the most important section. It shows the loan amount, property value, LTV (loan-to-value ratio), the mortgage term in years, the type of mortgage (repayment or interest-only), and the repayment method. Verify every figure matches what you agreed with your broker.\n\nSection 3: Interest Rate — Shows the initial rate, the type (fixed, tracker, variable), the duration of the initial rate period, and the rate you will move to after the initial period (usually the lender's SVR). For a fixed rate, the key number is the initial rate and the SVR reversion rate. For a tracker, note the base rate margin and any collar or cap.\n\nSection 4: Frequency and Number of Payments — Monthly payment amount during the initial rate period and after. This is where payment shock becomes visible. If your fixed rate payment is 1,200 per month but the SVR payment would be 1,600, you know you need to remortgage before the fix ends.\n\nSection 5: The Amount You Owe — Shows the total amount repayable over the full term if you never remortgage. This number is always startlingly large and includes all interest. It is useful for comparing two products over the same term but less useful in practice because most people remortgage every 2 to 5 years.\n\nSection 6: APRC (Annual Percentage Rate of Charge) — A standardised cost measure that accounts for fees and the reversion rate. It assumes you keep the mortgage for the entire term without remortgaging. The APRC is virtually useless for comparison because nobody stays on the SVR for 20-plus years. Ignore it when comparing deals.\n\nSection 7: Additional Costs — Lists all fees: arrangement fee, valuation fee, legal fees, and any ongoing charges. This is where hidden costs lurk. Check whether the arrangement fee can be added to the loan (and if so, that interest will be charged on it).\n\nSection 8: Early Repayment — Details the early repayment charges that apply if you exit the mortgage before the deal period ends. Typical ERCs are 1% to 5% of the outstanding balance, declining each year. Check the exact dates — some lenders charge ERCs on the anniversary of completion, others on a fixed calendar date.\n\nSection 9: Overpayment Allowance — How much extra you can pay per year without triggering ERCs, usually 10% of the outstanding balance. Note whether unused allowance carries over to the next year (it usually does not).\n\nThe Comparison That Matters — Ignore the APRC. Instead, calculate total cost during the deal period: monthly payment multiplied by the number of months plus all fees. A 4.2% rate with a 999 fee over 2 years on 250,000 costs total of 27,024 in payments plus 999 equals 28,023. A 4.4% rate with no fee costs 27,456. The second deal is cheaper despite the higher rate.