The figures below are for a mortgage of £200,000 over 25 years at with interest rate of 5%
- Your current monthly net income is £2,618
- A repayment mortgage is £1,183 per month, leaving £1,436 after payments
- An interest only mortgage is £833 per month, leaving £1,785 after payments
- After taking out the mortgage a 1% rate rise would increase payments by £166.
Use the Contractor Mortgage Assessor Calculator to calculate the maximum mortgage you can get.
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