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Very small mortgage - repayments?
Errata
Posts: 38,230 Forumite
Can anyone tell me what the monthly repayments would be on a very small mortgage of £17k for 10 or 20 years?
Thanks in advance.
Thanks in advance.
.................
....I'm smiling because I have no idea what's going on ...:)
....I'm smiling because I have no idea what's going on ...:)0
Comments
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... and the mortgage rate is?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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You would need to tell us the mortgage rate and the length of the mortgage before anyone could advise.MFW Challenge 2019 - £2,420 / £2,420 - 100% :T0
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17000 @ 0% for 10 years = 142 per month
17000 @ 0% for 20 years = 71 per month
It now gets very hand wavy add about 15 per month for every percent interest.
Better still: http://lmgtfy.com/?q=repayment+mortgage+calculatorIANAL etc.0 -
17000 @ 0% for 10 years = 142 per month
17000 @ 0% for 20 years = 71 per month
It now gets very hand wavy add about 15 per month for every percent interest.
Thanks, that's very helpful and just what I needed......................I'm smiling because I have no idea what's going on ...:)0 -
wouldn't most lenders have a minimum mortgage amount that's higher than this?0
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Some do, but plenty don't.
Smaller building societies often have no minimum at all.
Others may have the £25,000 min for remortgages so they don't fall into CCA regulation.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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