Moneyfacts Base Rate Increase Cost Guide
If as predicted the Bank of England base rate rises tomorrow, the table below may help you to calculate the impact to your variable rate mortgage.
Base |
Increase
|
||||
Mortgage £110K |
|||||
Repayment |
Monthly increase |
Interest only |
Monthly increase |
||
4.75% |
N/A |
£627.13 |
N/A |
£435.42 |
N/A |
5% |
0.25% |
£643.05 |
£15.92 |
£458.33 |
£22.91 |
5.25% |
0.5% |
£659.17 |
£32.04 |
£481.25 |
£45.83 |
5.75% |
1% |
£692.02 |
£64.89 |
£527.08 |
£91.66 |
6.75% |
2% |
£760.00 |
£132.87 |
£618.75 |
£183.33 |
|
|
Mortgage £150K |
|||
|
|
Repayment |
Monthly increase |
Interest only |
Monthly increase |
4.75% |
N/A |
£855.18 |
N/A |
£593.75 |
N/A |
5% |
0.25% |
£876.89 |
£21.71 |
£625.00 |
£31.25 |
5.25% |
0.5% |
£898.87 |
£43.69 |
£656.25 |
£62.50 |
5.75% |
1% |
£943.66 |
£88.48 |
£718.75 |
£125 |
6.75% |
2% |
£1,036.37 |
£181.19 |
£843.75 |
£250 |
|
|
Mortgage £200K |
|||
|
|
Repayment |
Monthly increase |
Interest only |
Monthly increase |
4.75% |
N/A |
£1,140.23 |
N/A |
£791.67 |
N/A |
5% |
0.25% |
£1,169.18 |
£28.95 |
£833.33 |
£41.66 |
5.25% |
0.5% |
£1,198.50 |
£58.27 |
£875.00 |
£83.33 |
5.75% |
1% |
£1,258.21 |
£117.98 |
£958.33 |
£166.66 |
6.75% |
2% |
£1,381.82 |
£241.59 |
£1,125.00 |
£333.33 |
Source: www.moneyfacts.co.uk
Figures based on mortgage with a 25 year term.
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.
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