What will my monthly payments be?
It is important to make sure your monthly payments are affordable so you can use our repayment calculator below to start getting used to what your payments may be.
What affects your mortgage payments?
Loan amount - This is the main contributing factor to your monthly payments.
Repayment type - whether you are integrating any interest only into the loan, we can help you learn more about interest only mortgages and if they are available to you.
Term - Most mortgage lenders will want a mortgage to finish by your intended retirement age, or 70 years old. The shorter the term the higher the payments generally but also the less interest you are paying on the mortgage over the term because of this.
Interest rate - There are many elements that can affect the interest rates that will be available to you however the main considerations are the level of deposit you can put forward, your credit score and the type of lender that we will be going to.
Get in touch with us today to discuss with more accuracy what your payments will look like.
Interest-Only & Part Interest-Only Mortgages
Interest-only mortgages and part interest-only solutions provide options to lower monthly payments, provided an acceptable repayment strategy is in place. These products can be particularly useful for investment planning or managing financial commitments strategically.
They can also be useful for those with variable incomes and bonuses that they can use to reduce the mortgage balance. Our expertise ensures you understand the risks and benefits while finding the most suitable lender for your needs.
Get In Touch
The best way to understand what your mortgage will cost is by speaking to one of our expert advisers, so please do get in touch today and we’ll soon to able to assess what your payments are likely to be.