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Specialist UK Mortgages...
Moneyfacts Mortgage Base Rate Ready Reckoner 04/07/2007
With base rate almost certain to rise a further 0.25% this Thursday, moneyfacts have produced tables to show the impact that the rate increases since August 2006 and the effect of the possible rate increases have on your mortgage payments.
MORTGAGES
Impact of a further increase
Base |
Increase |
||||
Mortgage £80K |
|||||
Repayment |
Monthly increase |
Interest only |
Monthly increase |
||
5.50% |
N/A |
£491.27 |
N/A |
£366.67 |
N/A |
5.75% |
0.25% |
£503.29 |
£12.02 |
£383.33 |
£16.66 |
6.00% |
0.50% |
£515.44 |
£24.17 |
£400.00 |
£33.33 |
|
|
Mortgage £110K |
|||
|
Repayment |
Monthly increase |
Interest only |
Monthly increase |
|
5.50% |
N/A |
£675.50 |
N/A |
£504.17 |
N/A |
5.75% |
0.25% |
£692.02 |
£16.52 |
£527.08 |
£22.91 |
6.00% |
0.50% |
£708.73 |
£33.23 |
£550.00 |
£45.83 |
|
|
Mortgage £150K |
|||
|
Repayment |
Monthly increase |
Interest only |
Monthly increase |
|
5.50% |
N/A |
£921.13 |
N/A |
£687.50 |
N/A |
5.75% |
0.25% |
£943.66 |
£22.53 |
£718.75 |
£31.25 |
6.00% |
0.50% |
£966.45 |
£45.32 |
£750.00 |
£62.50 |
|
|
Mortgage £200K |
|||
|
Repayment |
Monthly increase |
Interest only |
Monthly increase |
|
5.50% |
N/A |
£1,228.17 |
N/A |
£916.67 |
N/A |
5.75% |
0.25% |
£1,258.21 |
£30.04 |
£958.33 |
£41.66 |
6.00% |
0.50% |
£1,288.60 |
£60.43 |
£1,000.00 |
£83.33 |
Moneyfacts.co.uk – the money search engine |
|||||
Impact of increases since August 2006 (Total increase of 1.25%)
Mortgage Value |
Repayment Mortgage |
Interest Only Mortgage |
£80K |
£58.62 |
£83.33 |
£110K |
£80.60 |
£114.58 |
£150K |
£109.91 |
£156.25 |
£200K |
£146.55 |
£208.33 |
Moneyfacts.co.uk – the money search engine |
||
Based upon mortgage term of 25 years
SAVINGS
Impact of a further increase
Savings Value |
Interest Rate |
Additional Yearly increase (Gross) |
|
5.50% |
5.75% |
||
£1K |
£55 |
£57.50 |
£2.50 |
£2.5K |
£137.50 |
£143.75 |
£6.25 |
£5K |
£275 |
£287.50 |
£12.50 |
£10K |
£550 |
£575 |
£25 |
£25K |
£1375 |
£1437.50 |
£62.50 |
£50K |
£2750 |
£2875 |
£125 |
£100K |
£5500 |
£5750 |
£250 |
Moneyfacts.co.uk – the money search engine |
|||
NOTES TO EDITORS:
Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.
We can supply you with regular weekly or one-off selection charts on many financial products including savings, mortgages, credit cards and personal loans. Our charts are independent, impartial, totally accurate and up to date.
Please call Andrew Hagger on 0870 2250 512 for further information
Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.
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We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £349