New NR rate???

BigD1980_2

Hi there everyone, this is my first post so apologies if its in the wrong place!

I wonder if any one could give me a rough idea of how much i'll save when my Northern Rock fixed rate deal finishes? I currently pay approx £670 on a 5 year fixed deal. The deal ends in December, at the time the LTV was 95%. I think the rate was just over 7% (7.20% maybe?). When the deal ends and I revert to NR's SVR (4.79% currently) what will my new payments be approximately.

Any help would be greatly appreciated!:D

juliesg

what did u borrow

BigD1980_2

juliesg wrote: »

what did u borrow

£97000

Its scary writing that amount of money!

RufusA

Try plugging your figures in to one of the many online mortgage calculators. i.e.

http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml

For example assuming a 30 year repayment mortgage then:

7.2% = £664.54 / month
4.79% = £513.31 / month

You need of course to remember that I've made probably incorrect assumptions about your mortgage. Also NR SVR is likely to change between now and December!

HTH - Rufus

happybroker

Give them a call, they should be able to tell you what your payments will go to.