If you want to check out the affordability of the value, rates and payment period of a mortgage plan you have in mind, then look to our mortgage borrowing calculator. You can set the interest calculation period to monthly, daily, quarterly or annually, and compare the payments that you would make with interest-only and repayment mortgage deals.
By using our mortgage borrowing calculator you can do the following:
- Help identify the financial burden that you will be taking on, and whether the monthly payments will be affordable.
- Assess the value of the different options on offer to see which type of mortgage might better suit your needs.
- Look at whether you might need to change your mortgage aims, perhaps looking for different interest rates or starting values.
Note that interest-only mortgages may have cheaper repayments but will require that the full body of the loan be repaid at the end of the mortgage's term.
If you're looking for a mortgage then be sure to fill out our short enquiry form and get expert advice and quotes from professionals.