Rabbithunter 456 Posted December 30, 2008 Report Share Posted December 30, 2008 (edited) Right, i know interest rates vary depending on the borrower/deal But is there any calculation i can make, if i were to know the interest rate, so i would know what i would have to pay each month? Or if someone would fancy working it out for me on £60K (edited to add..... say, over 25 years ) I cant get appointment with mortgage advisor until next thursday. SO hence why i am asking on here Edited December 30, 2008 by Rabbithunter Quote Link to post Share on other sites
mattydski 560 Posted December 30, 2008 Report Share Posted December 30, 2008 http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml This is what I use to depress my self.. Quote Link to post Share on other sites
donk 12 Posted December 30, 2008 Report Share Posted December 30, 2008 Im paying £190 a month on £32,000 over ??? i think 20 years??? its come down about £60 since i first took it out,guess it will go back up soon when the market stabilises though. Quote Link to post Share on other sites
Waz 4,274 Posted December 30, 2008 Report Share Posted December 30, 2008 Right, i know interest rates vary depending on the borrower/deal But is there any calculation i can make, if i were to know the interest rate, so i would know what i would have to pay each month? Or if someone would fancy working it out for me on £60K (edited to add..... say, over 25 years ) I cant get appointment with mortgage advisor until next thursday. SO hence why i am asking on here http://www.moneyfacts.co.uk/calculators/mo...&HowLong=30 http://money.guardian.co.uk/calculator/for...,603156,00.html The first one is the better one as it gives you repayment or interest only. Quote Link to post Share on other sites
martin 332 Posted December 30, 2008 Report Share Posted December 30, 2008 Im paying £190 a month on £32,000 over ??? i think 20 years??? its come down about £60 since i first took it out,guess it will go back up soon when the market stabilises though. Don't think I would be worrying about the market stabilising any time soon Donk................. ........... martin.. Quote Link to post Share on other sites
Rabbithunter 456 Posted December 31, 2008 Author Report Share Posted December 31, 2008 thanks Quote Link to post Share on other sites
chimp 299 Posted December 31, 2008 Report Share Posted December 31, 2008 get fixed or capped and you should be ok Quote Link to post Share on other sites
Rabbithunter 456 Posted December 31, 2008 Author Report Share Posted December 31, 2008 okay, so used the calculator, entered amount i wanna borrown and how many years...... I put in 4% as the intrest rate, is this realistic or should i be loooking at a higher percentage? Quote Link to post Share on other sites
donk 12 Posted December 31, 2008 Report Share Posted December 31, 2008 Ive had a quick look round some of the lenders and theyre offering mortgages anywhere between 3.5% up to 6.5%,normally the bigger deposit you can put down the better interest rate you get,it dosent always work like that though. Personally id go with a repayment mortgage as opposed to an endownment mortgage,my brother in law paid his endownment mortgage for 20 years,at the end of it he still had to pay £8,000 to clear his mortgage,because the endownment hadnt performed as well as expected'. Quote Link to post Share on other sites
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