How to Use Mortgage UK to Calculate Repayments

How much of our income will you have to contribute to a mortgage? Mortgage UK provides a calculator to work this out and the following steps decribe how to use this facility.

Difficulty: Easy

Instructions

1. Visit the UK Mortgage website (link below). On the hand side of the screen towards the bottom is the mortgage repayment calculator.

2. Add the loan amount you require.

3. Add the interest rate you want to be charged.

4. Add the number of years you would to take to pay back the mortgage.

5. Click the calculate button and you should be shown the monthly payments given the condittions you entered. There will be an option to apply for this mortgage and if you want to continue on to this click "Apply Now".

Tips & Warnings

• When you put in the amount you want to borrow, do not seperate the numbers by a space or comma. For example 10,000 should be 10000.

Resources

• Mortgage UK