2006-12-28 10:13:03 · 20 answers · asked by julie b 1 in Business & Finance ➔ Renting & Real Estate
crippling
2006-12-28 10:15:19 · answer #1 · answered by Anonymous · 1⤊ 1⤋
I would recommend using two web sites.
http://www.thisismoney.co.uk - This site will allow you t use the tools and calculators down the left hand side of the screen. Importantly you should only borrow what you can comfortably afford to pay back and try not to exceed 40% of your overall income.
http://www.moneysupermarket.com/ - This site allows you to search the market for mortgages based on your personal circumstances. You can search over 8,500 mortgages.
I regularly use both sites as I have three properties, two on buy to let mortgages and my main residence. Not all mortgages are listed and it is often wise to speak with a specialist financial advisor who is licenced to advise on mortgages and they often have access to additional products.
To finish with the cost of a mortgage depends on many factors already explained in a previous answer such as term of the loan, rate obviously, product (discount, fixed, variable etc) You must also note that higher lending fees can apply in some circumstances and can be expensive. Solicitors fees, arrangement fees, release fees all add up and I would make sure you have at least £5,000 available if you don't plan on adding eligible costs to the loan.
Good luck with your mortgage search and remember.....don't borrow more than you can afford.
2006-12-28 10:33:15 · answer #2 · answered by Russ H 1 · 0⤊ 0⤋
There proper mortgage calculators on some sites try them for a more accurate guess
But its about 2,000 per month, but obviously you can get reduced fixed rates etc
Oh yeah and thats interest only not repayment or endowment etc you would have more on top for that............thats over 25 years
I would put an extra 1,000 on for repayment
2006-12-28 10:18:03 · answer #3 · answered by xXx Orange Breezer xXx 5 · 0⤊ 1⤋
I hope that you can't afford it. The more that people refuse to pay exhorbitant mortgages the better off we will all be because housing prices will stabilise and then fall to what people can afford without taking out lifetime mortgages.
Everyone predicted that the end of MIRAS in this country would kill housing demand but it didn't, people will always pay as much as they can afford. There should be limits on mortage time, and limits on how much can be borrrowed. Prices would soon fall to meet demand or there would be no buyers.
2006-12-28 10:27:49 · answer #4 · answered by MarkEverest 5 · 2⤊ 0⤋
depends on what type of mortgage, interest only or repayment? what term do you want the mortgage over and the other factors such as life assurance for the same amount as your mortgage. go see a mortgage adviser (independent) who will be able to advise accordingly.
2006-12-28 10:17:27 · answer #5 · answered by Sianny 3 · 0⤊ 0⤋
go to bankrate.com. Hit "calculators". Fill in the blanks on mortgage pyments.
2006-12-28 12:43:03 · answer #6 · answered by sm4125 3 · 0⤊ 0⤋
Horrendous!
2006-12-28 10:41:51 · answer #7 · answered by The BudMiester 6 · 0⤊ 0⤋
£3221.51 per month over 25 years at 6%
2006-12-28 10:19:02 · answer #8 · answered by mcfifi 6 · 1⤊ 0⤋
1500-2000
2006-12-28 10:20:12 · answer #9 · answered by alex m 2 · 0⤊ 1⤋
based on rates in the US, at least 3000 pounds I think
taxes and other things too I think
PITY cuz we pity the folks who have to pay all those
2006-12-28 10:25:12 · answer #10 · answered by kurticus1024 7 · 0⤊ 0⤋
You need to pay at least £5,576.17 per month over 10 years.
2006-12-28 10:20:45 · answer #11 · answered by Lilu 3 · 0⤊ 0⤋