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Author How much are you mortgage repayments?
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
24th Apr 07 at 13:08   View User's Profile U2U Member Reply With Quote
I'm looking at buying a place on my own in the near future.

I've been on money supermarket and I put in how much I want (150k) with a 10% deposit (165k in total).

An the repayments came out at £900 a month

If this is the case then I will never be able to buy on my own.
Dean_W
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Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline
24th Apr 07 at 13:24   View User's Profile U2U Member Reply With Quote
It is very expensive to buy on your own.

The Mrs. and I bought a shared ownership 3 years back. We ended up paying £340 per month for a 55K mortgage.
James
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Registered: 1st Jun 02
Location: Surrey
User status: Offline
24th Apr 07 at 13:28   View User's Profile U2U Member Reply With Quote
It wouldnt be so bad if where I want to live wasn't so bloody expensive.
James
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Registered: 1st Jun 02
Location: Surrey
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24th Apr 07 at 13:35   View User's Profile U2U Member Reply With Quote
Ok perhaps I need to speak to an advisor.
Aaron
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Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
24th Apr 07 at 13:42   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by James
It wouldnt be so bad if where I want to live wasn't so bloody expensive.




I think most people in this country share that sentiment
topshot_2k
Banned
Registered: 1st Dec 03
Location: Northampton Drives: Pug GTi-6
User status: Offline
24th Apr 07 at 13:56   View User's Profile U2U Member Reply With Quote
mine are £335 each a month £350 inlcuding insurance, thats borrowing £127k
Dean_W
Member
Registered: 13th Dec 05
Location: Downham Market, Norfolk
User status: Offline
24th Apr 07 at 14:00   View User's Profile U2U Member Reply With Quote
The best thing to do James is go and see an advisor. Not one in a bank, building society or estate agents. They only want you to go with their associates. Try an independant. When we bought our house, i didn't have a clue about mortgages.
Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
24th Apr 07 at 14:39   View User's Profile U2U Member Reply With Quote
£300
K17STY
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Registered: 13th Dec 02
Location: West Lothian
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24th Apr 07 at 14:40   View User's Profile U2U Member Reply With Quote
ally thats really good what was that for deposit etc?
Colin
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Registered: 4th Apr 02
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24th Apr 07 at 14:48   View User's Profile U2U Member Reply With Quote
£230
K17STY
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Registered: 13th Dec 02
Location: West Lothian
User status: Offline
24th Apr 07 at 14:50   View User's Profile U2U Member Reply With Quote
yours is better
Ally
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Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
24th Apr 07 at 14:55   View User's Profile U2U Member Reply With Quote
72500 mortgage, sellers paid Deposit taking my mortgage down to £67950, £300pm (im on interest only thou as i am selling next year)
K17STY
Member
Registered: 13th Dec 02
Location: West Lothian
User status: Offline
24th Apr 07 at 15:16   View User's Profile U2U Member Reply With Quote
are you interest only too colin?

i will be living interest only in a cardboard box me thinks the way prices round here are.
Aaron
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Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
24th Apr 07 at 15:58   View User's Profile U2U Member Reply With Quote
£333
p4uls corsa
Member
Registered: 2nd May 05
Location: BRADFORD
User status: Offline
24th Apr 07 at 16:31   View User's Profile U2U Member Reply With Quote
£461 on a £81000 mortgage.
corsa120
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Registered: 4th May 02
Location: Northamptonshire
User status: Offline
24th Apr 07 at 16:42   View User's Profile U2U Member Reply With Quote
mine is 630quid a month on a 110k mortgage but i overpay 70 quid so im paying 700 at mo
Dave A
USER UNDER INVESTIGATION - DO NOT TRADE

Registered: 10th Dec 03
Location: County Durham
User status: Offline
24th Apr 07 at 16:43   View User's Profile U2U Member Reply With Quote
£568 p/m on a £114,000 mortgage
ChrisD16v
Member
Registered: 16th Jun 04
Location: Chester, Cheshire
User status: Offline
24th Apr 07 at 17:55   View User's Profile U2U Member Reply With Quote
929 a month on a repayment mortgage for 163875 & a deposit of 8625. Mortgage fixed for 2 years at 5.99%
John_C
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Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
24th Apr 07 at 20:45   View User's Profile U2U Member Reply With Quote
576 on 126000 3 yr fix at 5.49% a year into it
Colin
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Registered: 4th Apr 02
User status: Offline
24th Apr 07 at 20:56   View User's Profile U2U Member Reply With Quote
I bought mine as a reposession for £36k, its worth about £65k now, I pay £230 - 23yrs left on it. Payments would be double that if I hadnt got it for such a low price.

My grand plan is to keep it to rent out once im done living here, I figured it will rise in value quicker than any pension/investment plan.

So in 2 or 3 years time (maybe sooner) i'll take out a second mortgage & rent my flat out indefinetely.


[Edited on 25-04-2007 by Colin]
James
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Registered: 1st Jun 02
Location: Surrey
User status: Offline
24th Apr 07 at 20:59   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by ChrisD16v
929 a month on a repayment mortgage for 163875 & a deposit of 8625. Mortgage fixed for 2 years at 5.99%


Who's that with?

Thats doable I guess, and a fairly good fixed rate.
mav
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Registered: 19th Jun 01
Location: Scotland
User status: Offline
25th Apr 07 at 04:22   View User's Profile U2U Member Reply With Quote
£576 PM
AK
Member

Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
25th Apr 07 at 07:31   View User's Profile U2U Member Reply With Quote
the flat - erm.... 650 i think - 150k interest only

The other flat will be around 1600 - 270k'ish repaymant

[Edited on 25-04-2007 by AK]
Fee
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Registered: 16th Nov 05
Location: With AK
User status: Offline
25th Apr 07 at 08:32   View User's Profile U2U Member Reply With Quote
It just depends what deal you can get....
you're repayments will depend on your interest rate....
your interest rate will depend on how much of a deposit you are paying, inflation, blah blah blah

just now with interest rates looking like they're going to go up, you'll be paying more than before.
RichR
Premium Member

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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
25th Apr 07 at 09:38   View Garage View User's Profile U2U Member Reply With Quote
£719 for ours based on £110,000 over 19 years

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