Mortgage Calculator
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Step 1
Mortgage repayment calculator
Our mortgage repayment calculator shows you what your monthly mortgage repayments would be based on:
- How much you want to borrow – this is the loan you will take from the lender, as opposed to the purchase price of the property. You don’t want to include your deposit here.
- How long you want to take the mortgage out over, in years – the longer you take the mortgage out for, the less your monthly repayments will be. However, as interest is accrued over time, it’s likely you’ll end up paying more interest over the term of the mortgage, in comparison to a shorter term.
- The interest rate you’ll pay – the interest rate you’ll pay is dependent on a number of factors, including the type of mortgage product you choose, the duration of the mortgage product, and the loan-to-value of the property.
The calculator assumes the mortgage will be on a capital repayment basis, rather than interest-only.
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| Amount being borrowed | |
|---|---|
| Amount of interest | |
| Total payable | |
| Monthly payment |
Want to see how much you can borrow instead?
Lenders undertake a thorough assessment of your income and expenditure in order to work out what they think you can afford to borrow. They factor in things like student loans, childcare, and maintenance payments as well as credit cards and personal loans.
Every lender has a different calculator that they use, as well as different criteria that determines whether or not you are eligible. If your case doesn’t fit with one lender, it might fit with another.
This is where a mortgage broker like us comes in handy. Our job is to know the lenders’ criteria and to match you up with someone who will consider you. We can compare deals from dozens of lenders, too, so you know you’re getting the best possible mortgage for you.
Contact us today for a free initial consultation.
Contact us today for a free initial consultation.
Why The Mortgage Store Chorley?
Exclusive rates you won’t get directly from lenders
A dedicated point of contact from initial enquiry right through to completion and beyond
Appointments seven days a week, to best suit your schedule
