Those of you who have 160k mortgages...........how much are you repaying each month ??

[MyFriendGoo5]

Apparently 160 is.the maximum I can borrow........I've started to mooch about online looking at mortgage planner thingthings but when I put my details in I get stupidly low repayment results which don't add up.

As in under £500 a month on a 25 year mortgage. Does.this sound right ?? It's all new to me.

Well I have a mortgage of £140k and pay £690 a month.

we pay £690 per month for £170k mortgage over 25 years. That does seem a little bit on the low side maybe?

That sounds about right. We’ve borrowed 80k over 11 years and we pay £650
So double the amount but more than twice the length of time I’d expect to be a lower payment

it depends on your loan to value ratio though and the deposit you put down

I think £500 for £160k sounds fantastic.

Are you looking at interest only or repayment mortgages?

Usually mortgage lenders will lend you a maximum of 3-4 times your annual household income.

Though £500 a month on a £160,000 25 year mortgage can't be right as by my sums after 25 years you would only have repaid £150,000 and obviously you would need to pay interest on top of the initial loan amount too.

Best advice I give anyone looking at mortagges is go and see a broker. They can get you much better deals often than you can find yourself, which may well save you thousands in the long run.

Gamer widow* literally just putting details in. It's a bit of a pipe dream at the mo but hoping to get there eventually.

It will depend on a lot of things. Are you looking at interest only or repayment mortgages? What is your LTV and (linkrd) what interest rate are you being charged?

£500 for £160k does sound fantastic. We’re 2 years into a 5 yr deal fixed at 2.73% on £110k over 25 yrs and we pay £500

You need to find out what that the figures would be at 5% in case of increased rates after Brexit.If that's affordable then buy while rates are low,there are 5 year fixed rates available still.

Mine is £164k, £680pcm over 25 years with Natwest. Was

When I had £150k mortgage, the repayments were £690.

We pay £520 and have 29 years left to pay, our house is worth about 280, and we owe about 155.

I'd expect it to be about £700 on a 25yr 160k mortgage. My 105k mortgage (25yrs) was 460 per month, so add 50% to that and you'd get 790, and that was on a sub 2.5% interest rate: I've now got it down to £440 a month.

We have 17 years left on ours with a balance of 160k left and we pay 920 a month

I'd expect more than that. We pay £1100ish for £230k, over 22 years. £600 might be more like it.

No, it doesn’t sound right for a capital repayment mortgage over 25 years.

It could be right for interest only (i.e. you still owe the £160k at the end) over 30 years. Which isn’t ideal, you generally would want to pay off the capital.

Mine is 180k and at the moment the payments are £1216 a month it on a 15 year term.

Ours is 159k and we pay £508 a month. It was originally £615 before the interest rate slashed.

We're due to remortgage in March and I'm expecting the monthly amount to increase, even though we now owe around 130k-ish.

I would say £500 a month isn't going to cover it.

To add to that.. our mortgage is over 30 years and we have 26 left so £500 is definitely too low unless you have a huuuuge deposit.

Make sure you're not looking at interest only mortgages.

Trying that’s a good rate! I’m paying that for £117k

We have a 5 yr fix on around a £133k mortgage, with about 50% LTV and pay £650.

We pay £500 for £140k over 35 years, so yeah that sounds a bit on the low side.

We're paying more than that for a 115k mortgage, over 22 years (seemingly random number, but I turn 70, that year!) fixed slightly higher than some, but for 10 years.