What is MTIC, and why is it more important than the Spread?

MTIC is the total amount payable by the consumer, meaning the overall amount you may pay over the life of the contract across principal, interest and other expected charges. For that reason, it is a more complete indicator than spread when comparing offers.

The spread still matters, but on its own it does not show the impact of insurance, fees, bank account requirements or other linked costs. To compare two offers properly, it is best to look at MTIC, APR and the contractual conditions together.

It makes sense to seek specialist support when you receive several offers with similar spreads but different cost structures and want to understand which one is more balanced for your case.

Talk to a specialist to compare offers with similar spreads but different cost structures.