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4.65% fixed for 5yrs on 30yr mortgage... ok, or too much?
Supreme_2
Posts: 133 Forumite
I'm just looking into affordability at the moment, and am wondering what peoples opinion would be on a 30yr, 4.65% (for 5yrs) mortgage would be? I will be borrowing approx £110k, and have take home each month of approx £1600. Repayment would be approx £570, after all my bills (inc food) this would leave me with ~£600 month.
To me this sounds easily affordable, and is actually cheaper than the rent i've been paying for years. It would be good to get other peoples opinions though.
Thanks
To me this sounds easily affordable, and is actually cheaper than the rent i've been paying for years. It would be good to get other peoples opinions though.
Thanks
0
Comments
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Only you can really answer the question. If you've been paying more rent then it sounds a no-brainer. Just have a back-up plan if rates are 5+% in five years.0
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