Help with the sums/feasibility, please!

Charlton_King

Property - £365k

Mortgage required at 80% LTV - £292k

Joint earnings - £100kpa

Type of mortgage - repayment

The question relates to an available repayment level of £2.5k per month... or so I am informed.

Can any apply their grey cells to this one and advise me whether it is feasible at current interest rates and which type of product might suit best?

getmore4less

You have £2500pm to fund some debt.

Stick it in a calculator
http://www.whatsthecost.com/mortgage.aspx
set to interest only and put in pay per month box £2500

put £292000 in the top box
put 100 in the years box(does not matter).
set the interest rate to something sensible between 0%-10% will do typicaly rates are more 2.5%-5% so 5% is a good starting point

Press calculate it will tell you long the loan will take to pay off.

eg : £292k, 5%, 100y, 2500pm paid off in 161 months so around 13.5 years