If you’re considering buying a property, using our mortgage repayment calculator tool is a great starting point.
Whether you’re a first-time buyer, making the next step on the property ladder or looking to remortgage in less than 5 minutes, you can work out how much you could borrow and what your monthly mortgage payments are likely to look like. The Lending Channel can then help you to compare the mortgage rates available to you.
Simply input your details into our easy to use generator. You’ll need an idea of the kind of prices you’ll be looking at, interest rate, your down payment and proposed mortgage term. Once you’ve entered your details, the calculator will quickly produce what your monthly payments, mortgage interest rate and principal figures might look like.
A clear understanding of these figures will help to save you time, money and heartache when looking at prospective homes. It’s important that you take this information seriously, as you need to ensure that you’re able to make agreed repayments on your mortgage or your home might be repossessed.
Please note that our mortgage calculator is not an agreement in principle. An agreement in principle is a more accurate indication of what you’ll likely be able to borrow, and you’ll need to apply for one directly to the lender. Our calculator is also not a mortgage overpayment calculator or stamp duty calculator.
Remember, too, that this calculator won’t take your individual circumstances into account. You’ll also need to consider the additional costs associated with buying a property, such as home insurance, legal fees and product fees. This calculator is designed to give you a brief overview of a standard residential mortgage.
If you’re looking for a more specialised loan (fixed rate, tracker rate, etc.) or a buy-to-let, please get in touch to discuss your requirements.
Once you have an overview of what you might be able to afford, it’s a good time to contact the Lending Channel for further advice. It might be time to discuss and compare mortgage deals that might suit you or to apply for a decision in principle.
For further support and information, don’t hesitate to contact us today. The Lending Channel is a team of professional brokers dedicated to getting the best deal for you. Whether your priority is low monthly repayments, a flexible repayment structure or a specialised mortgage, we work to your needs.
The Lending Channel is authorised and regulated by the Financial Conduct Authority (FCA).