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Property/DIY

How much will a mortgage cost?

10 replies

Waffles · 18/09/2007 20:01

Ok, never had a mortgage and now beginning to think about having one for our next house. Haven't got a clue (yet!) but I do know there are different types of mortgage etc. What I need to know, roughly, is how much per month would a £100,000 mortgage cost?

OP posts:
LIZS · 18/09/2007 20:04

Repayment or interest only ?

Waffles · 18/09/2007 20:05

Repayment

OP posts:
LIZS · 18/09/2007 20:07

Try BBC Mortgage Calculator. at a rough guess £550 - 600 I think.

LIZS · 18/09/2007 20:08

ooh repayment could be nearer 700

lisad123 · 18/09/2007 20:08

with current rates, mines about that much but have good rate, but still costing me nearly £800.
Go onto a few sites and you can use the calcator to see how much.
HTH

Waffles · 18/09/2007 20:09

Thank you L & L!

OP posts:
LittleMinx · 18/09/2007 20:29

my husband and i have a 105k mortgage and pay just under £1000 a month but we have a 12yr mortgage, not a 25yr one.

A lot would depend how many years you want it over...... the longer you have it over the more interest you pay..... i would estimate you will pay around £700 a month if its over 25yrs.

we were very lucky, we moved nearly 18 months ago and took out a 10yr fixed rate at 4.85% i think.......boy are we glad we did now!!

LilyLoo · 19/09/2007 10:13

there are lot's of variables tbh. Depends on length of time you take it over, the deals available at the time i would say around £750 - £800. If you need any advice look here

Waffles · 19/09/2007 13:13

Thank you everyone.

OP posts:
NannyL · 19/09/2007 19:10

At my rate (4.79%) it would cost about £550

but i dont think you can get that rate anymore!

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