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What could the monthly costs of a £100,000 mortgage be if you wanted to pay it back over 16 years at an interest rate of 1%?

Answer:

£563.83 a month

Total Payable: £108,255

Total Interest: £8,255

Change Values

%

What happens if rates go up?

Rate1.25%1.5%1.75%
Monthly£575
£11 more
£586
£22 more
£598
£34 more
Total Payable£110,385
£2,130 more
£112,542
£4,287 more
£114,725
£6,470 more

The above examples are based on borrowing £100,000 over a period of 16 years.

What if you wanted to borrow more?

Amount£105,000£110,000£115,000
Monthly£592
£28 more
£620
£56 more
£648
£85 more

The above examples are based on a rate of 1% over a period of 16 years.

What if you pay it off quicker?

Term14 yrs12 yrs10 yrs
Monthly£638
£74 more
£737
£173 more
£876
£312 more
Total Interest£7,205
£1,050 less
£6,162
£2,093 less
£5,125
£3,130 less

The above examples are based on borrowing £100,000 at a rate of 1%.

DISCLAIMER: These numbers are estimates only! They do not include any fees or charges that could be made by mortgage companies or agents. Take them at face value and don't come moaning back to us if you get quoted something different!

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16 years
£ 100000

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