What do you pay?

Little_Chicken

wow!:eek: I'm shocked how long some people's mortgages are. 33 years I didn't even know you could get them for that long.

oldagetraveller

Big fat 0.:D
3 bed semi.

penguin83

Our mortgage is £920.00 a month with GMAC.

Mortgage outstanding - 128000
House Value - 185000
Time left - 21.5 years but hoping to reduce to 16 years so I am mortgage free by 40. Best laid plans and all that! x x

lisabell

i own a 3 bedroom mid terrace worth £105,000 owe £83,000 capital and interest pay £541 per month fixed rate of 5.15 % fixed rate up in 2 years

ailuro2

Paying around £52 a month in interest, the other £460 we choose to pay is overpayments. 3 or 4 bedroom semi, nice area in small city in Scotland. 2 miles from work, currently worth around £160K, a year or two left on the mortgage, been here ten years after buying at £61K.:D

HC_2

I thought my mortgage repayments were big, but seeing people pay more than a thousand a month - eek!

Mine is 4-bed detached, value £400k-ish, £120k mortgage at £750/month.

Our 5-year fixed-rate comes to an end in September and will then pay off the bulk, and remortgage for about £20k - for as long as humanly possible (30 years, if they'll give it to us) to bring the payments down to chicken feed - we hope.

LCK73

If our purchase goes through, £150K mortgage for 25 years is currently costing £920 per month with a lifetime tracker of 1.04% above Bank of England Base rate. I want others 'tracker deals' though - 0.35% above BOEBR - sounds good! No chance of that right now though eh!

Now I'll wait for someone to hammer me about buying a house at this time....

TighterThanTwoCoatsOfPain

110k on 4 bed detached ~200k 20 years remaining on 5.15% for 10 years. Reckon will be mortgage free by the time i'm 40-45 depending on how many sprogs the missus ends up chucking out! :rotfl:

HC wrote: »

Our 5-year fixed-rate comes to an end in September and will then pay off the bulk, and remortgage for about £20k - for as long as humanly possible (30 years, if they'll give it to us) to bring the payments down to chicken feed - we hope.

I obviously dont know your reasons, but hope they're good, coz on the surface you're !!!!ing loopy!

20k over 30 years at say 6% = much lower repayments, but total repayable over the term of c.23k!!

20k over 5 years nearly halves the repayments you are already making, yet costs you less than 3.5k in interest

HC_2

TighterThanTwoCoatsOfPain wrote: »

I obviously dont know your reasons, but hope they're good, coz on the surface you're !!!!ing loopy!

20k over 30 years at say 6% = much lower repayments, but total repayable over the term of c.23k!!

20k over 5 years nearly halves the repayments you are already making, yet costs you less than 3.5k in interest

Yes, I know. But OH insists. Choice between a very small long-term debt or a short-term debt with high repayments. Priority at the moment is the monthly outlay.

We'll ensure that the mortgage we take out allows overpayments, so we hope to rid ourselves of it entirely in the shortest possible time - 10 years, with any luck.

poppy10_2

Renting a (posh) terraced house for £550 a month.

Average house price on my street is £250,000. Even assuming I put down a 10% deposit, and got a low 6% rate, repayments for a mortgage would be close to £1,500 per month. :eek:

Crazy stuff.