my Mortgage

aayush

Hi
I took out £58k mortgage in 2012 and have got 14K left to clear but just need to ask  paying £170.00 per month on variable.
am share ownership and is my friend 

but a friend asked for a remortgage for a similar amount and got quoted £80.00 per month how that 
how that possible?

born_again

Depends on their interest rate.

housebuyer143

Depends on the number of years it's taken over

aayush

My mortgage was for 21 years have 10 years left 
and my friend taken a similar when where his only 80 a month and i am paying 170 a month?

MFWannabe

What are the interest rates? 

Is one repayment and the other interest only? 

TheAble

Even at 0% you can't pay back 14k over 10 years at £80/month.

So either it's not 14k, or it's a different term or a different interest rate or whatever.

grumbler

aayush said:

Hi
I took out £58k mortgage in 2012 and have got 14K left to clear but just need to ask  paying £170.00 per month on variable.
am share ownership and is my friend 

but a friend asked for a remortgage for a similar amount and got quoted £80.00 per month how that 
how that possible?

MSE:  Mortgage calculator
Stop thinking in terms of 'per month' and think in terms of 'interest rate', 'total amount', 'number of years'

aayush said:

 friend taken a similar when where his only 80 a month and i am paying 170 a month?

Taken when? The rates were MUCH lower several months ago.

aayush

current int rate 7.99
current dal is tracker bebr +3.49%
my mortgage take out in 2012.

aayush

sorry it repayment 

as not sure what rate my refind got as he on hols at present but even with rata at present 14K at 80 pound is alot of saving 

MFWannabe

You need to know the full details; how much owing; interest rate, length of term, repayment or interest only 
the answer will be in the details 
my guess would be your friends is interest only 🤔 

Neilos9

Why does it matter what your friend is paying yours is £170 per month - he may have steak for Tea, but its not really gonna effect what you ate.