Mortgage

mat2113

hi, i currently have a house worth £110,000 with a mortgage of £20,000. i have £11,000 in saving my rate is 5.99%. If i pay the £11,000 off it what will my payments be?

thanks

StuartGMC

Matt
Simply use one of the calculators like Egg and dial in £11k as the mortgage amount, your interest rate and the remaining time to repay, then you'll get the repayment amounts likely to be required.

I assume you have savings beyond the £11k as you should always have a rainy day fund?

Jonbvn

What is the mortgage rate and the remaining term? If the savings are in ISA's (they should be) then you can get a higher rate than most mortgages.

Theo_Dillon

In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What's the part that these frauds played in the actual mortgage crisis.... ? Thanks.