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| Dec 2024: Monthly Payment On £100k Mortgage (25yrs) | ||
|---|---|---|
| Rate | Interest Only | Repayment |
| 3.94 - 2 Year Tracker | £410.41 | £660.98 |
| 3.70 - 5 Year Fixed | £385.41 | £643.86 |
| 5.15 - No ERC 2 Year Tracker | £536.45 | £747.63 |
| 3.88 - 3 Year Fixed Rate | £404.16 | £651.54 |
| 4.51 - Offset 2 Year Fixed Rate | £469.79 | £706.10 |
| 5.60 - 7 Year Fixed Rate | £583.33 | £784.39 |
| 5.60 - 10 Year Fixed Rate | £583.33 | £784.39 |
| 5.59 - Lifetime Tracker | £582.29 | £779.73 |
If you are struggling with debt such as credit cards, personal loans, bank overdrafts etc, a way of solving this could be to remortgage and free some of the equity in your property. The advantages of this are:
i) You can consolidate debt into 1 easy monthly repayment.
Ii) The interest rate for a remortgage will be considerably lower than credit cards or loans.
iii) You can spread the repyaments over a longer period.
In all cases this wiill reduce your monthly outgoings and resolve the problem. But you must bear in mind that you are increasing the amount you owe against your property, and perhaps consider budgeting so that you don't have to do this again in the future.
With interest rates currently at an all time low why not find out what Best Fixed Rate, Offset, Tracker & Flexible Mortgages are still available. There are some great deals out there still if you know where to look & our service covers the whole UK market to compare every mortgage available to you, as well as some exclusive deals. You could save £££s by remortgaging with the right deal whilst interest rates are still very low!
Always seek independent advice when considering your mortgages options. We will access the whole market to find you the best product for your circumstances.