Average payment on £100,000 mortgage

summer1979

A couple of years ago I tied into a mortgage for £100,000, even though we knew it was a high rate, we were worried the rates may increase to fixed anyway. I just wondered now what are the average payments on a £100,000 mortgage. We pay £700.00 per month, is this a high or low payment?? many thanks

opinions4u

It depends on the term and the rate.

A typical 5 year fix would be 5.89% which would give a payment of £645 a month on a 25 year term.

Here's a calculator for you to play with.

To be honest, fixed rates haven't fallen much in the last couple of years. You took a decision to fix for a reason, and that reason is probably still valid today. Don't regret it.

de1amo

most building societies have 'affordability' calculators to show the current rates as well

u02ja3

i had a 99k and paid 547.00 over a 33 year term, now pay just under 400 now am on svr. have made overpayments though, so that's brought it down. hope that helps.