If I increase my mortgage by £100-120K how much extra will it cost me per month

[SlightlyMadShockwave]

i.e increase from £60K to £180Kish...(we only have 15years left on mortgage and don't particular want a new 25yr term....but would consider it maybe)

ours is 120k and is about 850 per month

We went from 80K to 138K and our payments went up by £350 ish. But that was going back up to a 25 year term. Nationwide (and other lenders as well I guess) have a calculator on their website that lets you work it out.

£850 per month ....won't be buying a bigger house then....

Oh well, better tidy this one up then and forget about the extra bedroom, study, dining room, utility

Sorry, just checked - it's 70 less than that

if you go back up to a 25 year term it doesn't mean you can't overpay it and clear it sooner. So in the short term you could have a bit lower payments and then increase them later to pay it off quickly.

If you need more space it makes sense to do it now so you benefit from it longest and (hopefully) also you buy before prices rise any further.

I am kind of hoping prices will start to go back down over next 5 years. But keep thinking what if I am wrong....then we will never be able to move up...

We do really need more room....but I don't really want to move to a bigger 3 bed as I would like the 4th bedroom, and don't want to move twice over 5 years IYSWIM....

Ours went up about £750 pm for 130k more but part is interest only.

Also remember that the recent interest rate rises have not really filtered down (takes about 12/18 months for their full effect to be felt) and that also interest rates will most likely being going up again.

Useful mortgage calculator here

any chance of extending what you have to get the extra space - it is likely to be cheaper.

Extending tends to be a similar price to buying up from what I could work out from months of fcking with architects, planners and builders and then giving up and deciding we would all sleep in one room

The BBC Calculator say that at 6.5% / 15 years / repayment mortgages:

60k - £531.76 per month
180k - £1595.29 per month

over 25 years, 180k would be £1229.72 per month

my dh always does a quick calculation of £5 per £1000

per mnth