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What will i pay for mortgage for ybs on svr?
dolly74_2
Posts: 111 Forumite
Hi
Can anyone help me with this. The mortgage loan amount i borrowed was £96,000 over 25 years. I have just finished a 3 year fixed rate with YBS which was 5.29 %for 3 years and was £576.95 a month. The details with my mortgage say that it would then go up to the standard variable rate. At that time it quoted me £645.95 based on the then rate which was 6.60%. Looking at their website, their rate is now 6.90%. What does this mean i will be paying? Can some one tell me how to do the calculation too so i can work it out myself in future. Many thanks
Can anyone help me with this. The mortgage loan amount i borrowed was £96,000 over 25 years. I have just finished a 3 year fixed rate with YBS which was 5.29 %for 3 years and was £576.95 a month. The details with my mortgage say that it would then go up to the standard variable rate. At that time it quoted me £645.95 based on the then rate which was 6.60%. Looking at their website, their rate is now 6.90%. What does this mean i will be paying? Can some one tell me how to do the calculation too so i can work it out myself in future. Many thanks
0
Comments
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I make it that your payment should have been £577.55 (the difference is minimal and probably could be explained by the way they apply interest charges).
Your new payment will be £663.50 or thereabouts at 6.90%.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
http://www.moneymadeclear.fsa.gov.uk/tools.aspx?Tool=mortgage_calculator
You can use this calculator to work it out for yourself in the future0
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