how much

arch_stanton_3

in todays market what would be my monthly mortgage payment for a £220000 house

dimbo61

Just went on the yorkshire building society website and found a 5 year fixed rate deal at 5.89%
if you are putting down a 10% deposit thats £22000 and borrowing £198000 over 25 years thats £1261 a month for the next five years then onto whatever there variable rate is at the time.
Dont know your age, deposit, income, etc but it gives you a rough idea OK

Locoblade

It will depend on how much deposit you put down, how long the mortgage is, and what the interest rate is. If you borrowed the full £220k over 25 years at 6%, just over £1400 a month repayment

sheslookinhot

arch_stanton wrote: »

in todays market what would be my monthly mortgage payment for a £220000 house

monthly payment influenced by interest rate, not market

_Andy_

sheslookinhot wrote: »

monthly payment influenced by interest rate, not market

The OP probably meant mortgage/financial market, rather than the housing market.

_dave__4

arch_stanton wrote: »

in todays market what would be my monthly mortgage payment for a £220000 house

Different lenders can have slightly different ways of calculating the monthly payment, even with the same loan amount and headline interest rate, but this online calculator can give you an idea:-

http://calc-calc-calc.net/get/calc/Mortgage-Comparison/?L=200000&I1=5.99

For instance, it shows that borrowing (say) £200,000 at 5.99% over 25 years would cost around £1,287 per month.

arch_stanton_3

hi sorry for delay in responding been on nights. got eye on property at mo its 220000 ( empty ) hoping with the slump we are in at mo that it will drop to £200k. will be able to put down £30k = £170k im 41 and retire at 55 my income is £28k would i be able to go back to 25 years

_Andy_

If you're buying on your own it's not going to happen - no lender is going to do 6.07x your income.

getmore4less

arch_stanton wrote: »

hi sorry for delay in responding been on nights. got eye on property at mo its 220000 ( empty ) hoping with the slump we are in at mo that it will drop to £200k. will be able to put down £30k = £170k im 41 and retire at 55 my income is £28k would i be able to go back to 25 years

If it has been on a while, is empty and not selling this is heading for the new stamp duty theshold, think £175k

what will th pension be at 55? that wil ldetermine if you can borrow.

arch_stanton_3

i work for a fire authority so i will get decent pension when i retire this has also been boosted by european directive regarding pension

_Andy_

arch_stanton wrote: »

i work for a fire authority so i will get decent pension when i retire this has also been boosted by european directive regarding pension

Are you buying in just your name? As I mentioned above on your current salary this isn't going to be possible.