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Monthly Mortgage Payment Guides
| Please select the mortgage loan amount for a more detailed payment table | ||||
|---|---|---|---|---|
| £310,000 Mortgage Payments | £320,000 Mortgage Payments | £330,000 Mortgage Payments | £340,000 Mortgage Payments | £350,000 Mortgage Payments |
We often get asked what the approximate monthly payment would be for a certain amount of money over a certain number of years - to give you an indication of monthly mortgage payments we have some examples below.
Monthly mortgage payments at 5% Capital Repayment
 |
£310,000 | £320,000 | £330,000 | £340,000 | £350,000 |
|---|---|---|---|---|---|
| 15 years | £2,488.84 | £2,569.13 | £2,649.41 | £2,729.70 | £2,809.98 |
| 20 years | £2,072.93 | £2,139.80 | £2,206.67 | £2,273.54 | £2,340.41 |
| 25 years | £1,832.94 | £1,892.07 | £1,951.19 | £2,010.32 | £2,069.45 |
For borrowers who can not provide suitable proof of income a self cert mortgage may be required. Interest rates for self cert mortgages would typically be around the 6% mark and should give a good indication of the monthly costs on a repayment basis.
Monthly mortgage payments at 6% Capital Repayment
|
£310,000 | £320,000 | £330,000 | £340,000 | £350,000 |
|---|---|---|---|---|---|
| 15 years | £2,659.87 | £2,745.67 | £2,831.48 | £2,917.28 | £3,003.08 |
| 20 years | £2,252.27 | £2,324.92 | £2,397.58 | £2,470.23 | 2,542.88 |
| 25 years | £2,020.86 | £2,086.05 | £2,151.23 | £2,216.42 | £2,281.61 |
The rates below are typical of mortgage deals that allow adverse credit to be registered with credit reference agencies, usually known as a bad credit mortgages they will allow clients with credit problems to obtain a mortgage or remortgage, due to the higher risk involved for the lender they normally carry a higher interest rate, if you have bad credit registered against you then you may find the loan to value and income and affordability pages useful.
Monthly mortgage payments at 7% Capital Repayment
|
£310,000 | £320,000 | £330,000 | £340,000 | £350,000 |
|---|---|---|---|---|---|
| 15 years | £2,836.36 | £2,927.86 | £3,019.35 | £3,110.85 | £3,202.34 |
| 20 years | £2,438.48 | £2,517.14 | £2,595.81 | £2,674.47 | £2,753.13 |
| 25 years | £2,216.77 | £2,288.28 | £2,359.79 | £2,431.30 | £2,502.81 |
Monthly mortgage payments at 8% Capital Repayment
|
£310,000 | £320,000 | £330,000 | £340,000 | £350,000 |
|---|---|---|---|---|---|
| 15 years | £3,018.10 | £3,115.45 | £3,212.81 | £3,310.17 | £3,407.53 |
| 20 years | £2,631.18 | £2,716.06 | £2,800.94 | £2,885.81 | £2,970.69 |
| 25 years | £2,420.04 | £2,498.10 | £2,576.17 | £2,654.23 | £2,732.30 |
For people with very bad credit such as lots of mortgage arrears and a number of CCJ's higher interest rates may apply. People who want a remortgage to repair their credit will often be happy to live short term with a mortgage of 9% in order to carry out what is termed as a credit repair remortgage, meaning when they remortgage again they should be eligible for much more attractive interest rates.
Monthly mortgage payments at 9% Capital Repayment
|
£310,000 | £320,000 | £330,000 | £340,000 | £350,000 |
|---|---|---|---|---|---|
| 15 years | £3,204.85 | £3,308.24 | £3,411.62 | £3,515.00 | £3,618.38 |
| 20 years | £2,829.95 | £2,921.24 | £3,012.53 | £3,103.82 | £3,195.11 |
| 25 years | £2,629.99 | £2,714.83 | £2,799.67 | £2,884.51 | £2,969.35 |
Whilst the above tables will give you an indication of the likely cost of an adverse credit mortgage, its always best to speak to a profession who understands your circumstances and your mortgage needs, its very unlikely you will know what rates etc you can get until you speak to a specialist mortgage broker.
