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Is 150k a large mortgage?

79 replies

julesjam · 11/04/2013 15:07

...for a 4/5 bed house in Scotland, garden, garage, 2 recep etc. worth around 250k

Payments would be around 600/month. We're lucky to have a small mortgage atm because we bought about 8 years ago, so have a lot of equity in the current property, but increasing to 150k would more or less double our payments.

Is this reasonable? I'm trying to convince DH that it's doable but I think he's a bit Shock. Am I, in fact, deluding myself??

OP posts:
peteypiranha · 08/06/2013 00:21

150k is a small mortgage imo

MadeOfStarDust · 08/06/2013 17:04

Is that an interest only mortgage? - how would you pay back capital? - can you even get an interest only mortgage of that size ?

olivo · 08/06/2013 19:22

Not to us, ours is £350 k. But it depends how many years you have put it over, and how much you bring home.

olivo · 08/06/2013 19:23

Oh, also, they way we see it is the proportion it is, versus the proportion of the house that actually belongs to you.

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