Repayments for £90000 mortgage

Tayus

Hi could any one tell me what the typical payments would be on a £90000 mortgage over a term of 25 years. I know its a bit of a random question but i dont need exact figures just a rough guesstimate. thanks

needstoknow

550 per month

goldmercury

mortgage calculator...

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

missk_ensington

It also depends on your circumstances (If you have debts, or have a mortgage on a Self-Certificate like mine because you have a) income from various jobs or b) your self emplyed and don't have 2 yrs accounts the interst rate might be 5.5% rather than 4%)

Halifax have a really good calculator online, you can see what the repayments would be using different rates and over different terms. Also try and increase your deposit, borrowing from family is better than borrowing from the bank cos at least family (probably) won't want interest!

Gingham_Ribbon

Is your plan to try to reduce the term of your mortgage? Or are you planning your finances for taking out a new mortgage?

comping_cat

My mortgage is with Northern Rock, £90,000, unlimited overpayments, which you can then borrow back if you need to. It is self certificating (im self employed) and i managed to get a fixed rate of 4.99%, fixed for 5 years. It is over 28 years (previously had a 30 year deal) and for that im paying £500 a month.

Tayus

Thanks for your replies, just wanted to start saving as though i had a mortgage so that i could get used to the payments before i purchase a house.