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Mortgage Repayment Table

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A quick repayment table for anyone interested.

£100,000 Mortgage over 25 years

Rate Monthly Payment Total Payments

5.00% £584.59 £175,377.01

5.25% £599.25 £179,774.31

5.50% £614.09 £184,226.25

5.75% £629.11 £188,731.92

6.00% £644.30 £193,290.42

6.25% £659.67 £197,900.81

6.50% £675.21 £202,562.15

6.75% £690.91 £207,273.46

7.00% £706.78 £212,033.76

7.25% £722.81 £216,843.00

7.50% £738.99 £221,697.00

7.75% £755.33 £226,599.00

8.00% £771.82 £231,546.00

8.25% £788.45 £236,535.00

8.50% £805.23 £241,569.00

8.75% £822.14 £246,642.00

9.00% £839.20 £251,760.00

9.25% £856.38 £256,914.00

9.50% £873.70 £262,110.00

9.75% £891.14 £267,342.00

10.00% £908.70 £272,610.00

10.25% £926.38 £277,914.00

10.50% £944.18 £283,254.00

10.75% £962.09 £288,627.00

11.00% £980.11 £294,033.00

11.25% £998.24 £299,472.00

11.50% £1,016.47 £304,941.00

11.75% £1,034.80 £310,440.00

12.00% £1,053.22 £315,966.00

12.25% £1,071.74 £321,522.00

12.50% £1,090.35 £327,105.00

12.75% £1,109.05 £332,715.00

13.00% £1,127.84 £338,352.00

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The solution to rate rises will be to reintroduce the mortgage interest relief that the Tory's used to create an artificial bottom to housing disaster in the early nineties. My parents were able to keep their house because of this benefit. We had more house than we could afford at the time but we were bailed out.

So, don't be surprised to pay for others' folly in the coming years. Helicopter money.

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this should be made into a graphic and plonked on the first page right next to the price graph.

makes it very easy for joe public to realise just how much debt is involved in just 100k.

its a real eye opener. makes things very clear for the ftb.

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Guest Winners and Losers

this should be made into a graphic and plonked on the first page right next to the price graph.

makes it very easy for joe public to realise just how much debt is involved in just 100k.

its a real eye opener. makes things very clear for the ftb.

I agree with RFD (of course ;) ), it would be great to have this quick reference.

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I agree with RFD (of course ;) ), it would be great to have this quick reference.

Also worth highlighting the false saving of longer term mortgages; i.e. they are marketed as cheaper options for those who cannot afford 25yr deals. Essentially the capital ammount reduces at such a low rate that it ends up being a more expensive deal by the time you've finished.

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Don't forget a massive lagging effect on HPI ((by which I mean -ve HPI) as a result of the number of people in their 30s and 40s taking out fresh 25 year mortgages to help afford houses. They are banking on (i) being employed at current wage levels and having mortgage debt until 60-65 and (ii) no risk of unemployment post 55 and (iii) wages increases when most are at or past their earning peak in real terms.

Contrary to many I think if the youth of today are brave enough and take a sufficiently long term view they wil beneift from very affordable housing in 5-10 years.

Edited by Tempest

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http://www.jeacle.ie/mortgage/uk/

Gives a nice graphical representation of payments, plus how overpayments affect the final outcome.

lol - overpayments...

I imagine many buyers with their 30 year IO mortgages that take up 55% of their annual incomes can't wait to pay off their debts eventually.

I personally think repayment is the only way to go but for many of my peers the concept of 'buying' a house and 'owning' a house have become ridiculasly disjointed.

One is now a 'homeowner' by simply borrowing 10x income on a 100% IO mortgage, not because they actually invested any money, merely because they have taken on debts equivilent to the interest required to repay the property valuation. They still have the capital to repay.

Home buying is now a speculative activity which is vastly removed from home owning - another of the many reasons a crash is surely imminent.

- Pye

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overpayingmortgage49sg.jpg

What FTB has a mortgage of £80k these days ffs? All those FTBs with £100k deposits?

I wonder if Which? just took the same graph from 1995 and changed the dates.

frugalista

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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