Hi i have seen a flat for sale at a cost of 140,000 and am thinking of going ahead with the purchase, just want to know will how much deposit will i have to put, will 20 thousand be ok and just off your head a rough idea how much mortgage would i have to pay a month!! just so i know what i'm up against !! thanks,,,,,,,,,
2007-05-31 13:44:54 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Lenders like to see at least 20% down. That would be 28k in your case. You might get by with less but you won't get the best interest rates and may have to pay for mortgage insurance as well. Your payment would be based upon the interest rate and term of the mortgage. The interest rate would depend upon your creditworthiness. Without knowing a lot more information than what's provided, it's not possible to even make a wild guess at this point.
2007-05-31 13:58:18 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I am not sure but I know in London you have to put 10% deposit down to prbve you really want the property.
2007-06-01 03:30:01 · answer #2 · answered by Hoodoo 3 · 0⤊ 0⤋