first time mortgage

magzy1827

can anyone give me an idea of what the repayments will be for a £40,000 repayment mortgage.just roughly.please.

Darryl

It depends upon the mortgage interest rate and length of time you take to repay the mortgage.

But, let's say the interest rate is 6% and the term is 25 years, and your payment on a £40k mortgage will be approx £260 per month.

You can get lower interest rates than this (and lower payments). Best bet is to do a comparison search on the various websites that provide this service.

See Martin's article on mortgages and remortgaging for links to comparison sites here:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1045408862,15903,

Hope this helps

Darryl.

magzy1827

thats great.thanx for that.