Mortage Payments

DEEDIA

This might be a Daft post but, Mr Thrifty wants a small Mortage £30,000. I have asked for a Mortage and have been given the okay, my age 50s, but what would the Monthly repayments be on a £30k, I know there are different types, So if I have the £30k in the Bank would I be better off spending my savings or taking the Mortage. I have crammed a lot in to the question but hopefully the answer will be much simpler.

TDPIX

DEEDIA wrote: »

what would the Monthly repayments be on a £30k

What length mortgage? Fixed or variable? Capital or interest only? Mortgage term?

DEEDIA wrote: »

if I have the £30k in the Bank would I be better off spending my savings or taking the Mortage.

Do you need the savings? Due to the interest on a mortgage, if I had the money lying around then I'd use that instead of taking out a mortgage. But this would be if I have no other plans/need for the money.

DEEDIA

Is there somewhere I can look to see what repayments would be over say years, As for type of mortgage NO idea just want a loan managable repayments, done,

Morgage_Confused

amortization calculator is what you need....online one here for example..

https://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

DEEDIA

Found the one on this site very helpfull thank you, will need to talk to someone as I dont know what I want really