How much will i have to pay monthly on a mortgage of £300,000 over 25 years?

Answer 1

Based on a fixed rate for 10 years with a 10% deposit at a rate of 5.34 % it would be

£1632.34

WOW!

Answer 2

A mortgage with a low initial rate of 2.25% fixed for 2 years will cost about £562.50 per month interest only or £1308.39 per month on a capital & interest repayment basis.

However these types of 'low start' products often have extended tie-in periods. This means that once the initial fixed rate period is over (2 years) you'd be locked in to paying the lender's standard variable rate (in this case approximately 7.3% for a further 4 years) which would be £1825.00 per month interest only or £2178.09 per month on a repayment basis. You could switch lenders (remortgage) after the initial 2 year period but you'd have to pay a redemption penalty to the lender which on £300,000 could be as much as £21,000

A 2 year discounted mortgage with an initial rate of 4.95% (with no extended tie-in) would cost about £1237.50 per month interest only or £1745.04 on a repayment basis. However when the initial rate ends in 2 years (and reverts to the lender's standard variable rate) you would be free to switch lenders to find a better rate without having to pay a redemption penalty.

If you'd like us to search the whole UK mortgage market to find the best deal for you visit our site at http://www.the-mortgage-brokers.com - there are interest rate tables and other calculators on the site to give you an idea of maximum borrowing amounts & other costs.

Answer 3

You will be better off putting a search in yahoo.Find the cheapest fixed rate morgage.They usually always have a calculator.Good Luck

Answer 4

Assuming the interst rate is 6%, you will have topay £1904 pm.

Answer 5

£1000

Answer 6

It depends on the rate of interest

Answer 7

Blimey!!!!! Makes my mortgage of under 50,000 seem like peanuts