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The Bank Rate holds at 5.25%, despite inflation hitting its 2% target for the first time in 3 years.
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The calculator results above are not provided by Halifax and are only indicative based on a repayment mortgage product. The interest rate has been assumed to stay the same for the selected mortgage term. Repayments will be subject to the product provided and your circumstances. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
Welcome to our mortgage calculator, a powerful tool that can help you estimate your monthly payments with ease. Whether you're a first-time buyer or looking to refinance your existing mortgage, our mortgage calculator can provide you with valuable insights into your potential monthly payments, helping you to plan your home financing.
Estimate your monthly payments accurately, allowing you to plan your budget effectively and avoid taking on a mortgage that is beyond your means.
Compare different loan options by adjusting variables such as loan amount, interest rate and loan term, helping you make informed decisions about which loan option best fits your financial situation.
By understanding how different factors impact your monthly payments, you can ensure that you're choosing a mortgage that fits in with your financial goals.
If you're getting ready to sell or just super curious, we recommend getting a free, in-person valuation from a local estate agent.
Just ask Zoopla.
The Bank Rate holds at 5.25%, despite inflation hitting its 2% target for the first time in 3 years.
From sorting an agreement in principle to arranging the mortgage offer, how do you apply for a mortgage when you're a first-time buyer? Let's take a look.
What is the Bank Rate? Why do interest rates change? And what does it all mean for your mortgage repayments? Here’s everything you need to know about interest rates and how they affect you.
About to apply for your first mortgage and not sure how to prepare? Check these off your list to boost your chances of success.
Looking to get your first mortgage or lock in a new one? Let's take a look at the pros and cons of the different types of mortgages available.
Environmentally friendly mortgages: from how much they cost to who qualifies for one, here’s everything you need to know about green mortgages.
Need to work out your mortgage repayments? You can use our mortgage calculator - or challenge yourself to some mental maths with our mortgage calculation formulas.
Want to renegotiate the price of the property you’re buying? Our guide has the ins and outs on how it could affect your mortgage offer.
How do you decide which type of mortgage to go for and where can you find the best deals? Let's talk about loans.
A good rule of thumb is that you can borrow between 4 and 4.5 times your total household income. Let's work out how much you can borrow for a mortgage.
With Brits living and working longer than ever, more of us want to take out mortgages later in life.
Legally, you're never too old to get a mortgage. As long as you've got the means to pay it, there'll be mortgage providers willing to lend it.
What is a mortgage?
A mortgage is a loan given by a bank, lender, or other financial institution to help an individual or business purchase a home.
How to save for a house deposit
Set a target and save it as soon as you get paid.
Take out a Lifetime ISA, the government chips in 25% if you save £4,000 each year.
Reduce your rent as much as possible, can you live with parents or friends?
Consider Shared Ownership, which requires a smaller deposit.
How much can I borrow for a mortgage?
Banks and building societies usually lend 4 to 4.5 times your total household income.
The most important things they'll look at are your monthly income and your monthly outgoings, to see how much you can comfortably repay.
What mortgage can I get?
There are lots of different types of mortgages available, from repayment and interest only mortgages to fixed rate, tracker and standard variable rate mortgages.
What deposit do I need for a mortgage?
You’ll usually need a minimum deposit of 5-10% of the home you want to buy.
A 25% deposit will gives access to better mortgage deals, while a 40% deposit opens up the best deals
How long does a mortgage application take?
It can take from two to six weeks to get a mortgage approved. Most mortgage offers are then valid for six months.
So if you see a great deal out there and want to reserve it, it's worth speaking to the lender or a mortgage broker in advance.
At Mojo Mortgages, you'll just need to fill out a short questionnaire, which takes around 8 minutes, then arrange to speak with one of their expert mortgage brokers.
They'll scour the whole market on your behalf and can arrange a mortgage in principle and a mortgage offer for you.