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first time mortgage
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magzy1827
Posts: 219 Forumite
can anyone give me an idea of what the repayments will be for a £40,000 repayment mortgage.just roughly.please.
No reliance should be placed on the above.
0
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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.... Fool's Gold ...0 -
thats great.thanx for that.No reliance should be placed on the above.0
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