Remortgage Advice - Actual Cost over X years

Hello,

Im doing some homework regarding re-mortgaging my house for the very first time. Im trying to look up as much I can and read/learn as much as possible but im a little confused on the "Actual cost over X years" meaning

Exisiting first ever mortgage deal:

137,700 borrowed at 5.99% over 3 years with Santander.
Monthly repayemnts £824.70


My Property:

Its current value should allow me to easily be in 80 LTV bracket, borderline 75% LTV.


Deals looking at:

Cov BS - 132,500 borrowed at 3.69% (80 LTV) Fixed until 30.6.18 over 27 years
Monthly repayments 647.99
Fees 499 (will be paid up front)
Actual 5 year cost £38,200.40

Notts BS - 132,500 borrowed at 3.44% (80 LTV) Fixed until 31.5.18 over 27 years
Monthly repayments 632.19
Fees 999 (will be paid up front)
Actual 5 year cost £39,195.78


So what is meant by actual 5 year cost?
Does this include all repayment fees both capital and interest (obv the capital amount grows each as term goes on).
Does it also include the setup fees?

My calcs:

Cov: 648 x 62 = 40,176 + 499 = 40,675

Notts: 632.19 x 62 = 39,195.78 + 999 = 40,194.78

Meaning by my working (and im probbo wrong) the Notts BS lower rate deal means works out better even though higher fees by just shy of £500 over the term.

So wheres the difference from for the "actual cost over......" to my calcs?

Is the above correct, in this instance with these 2 deals the lower initial rate covers the higher fees and is the one to persue?

Any other tips and advice you guys recommend i look out for?
Like i siad im trying to do as much as i can and learning all the time rather than asking other to do all the leg work for me.

Many Thanks in advance

Kind Regards