Mortgage Calculator For £200000
Best 200K Mortgage Rates
Mortgage Calculator For 200000
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- Lloyds Bank
- 4.07% Initial
- 5 year fixed
- 6.7% APRC
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Cashback Max £250Free LegalsFree Valuation
- Get quotes
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- 4.07% Initial
- 5 year fixed
- 5.9% APRC
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Cashback £0Free LegalsFree Valuation
- Get quotes
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- 4.08% Initial
- 5 year fixed
- 6.3% APRC
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Cashback £0Free LegalsFree Valuation
- Get quotes
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- 4.08% Initial
- 5 year fixed
- 6.4% APRC
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Cashback £0Free LegalsFree Valuation
- Get quotes
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- 4.09% Initial
- 5 year fixed
- 6.6% APRC
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Cashback £0Free LegalsFree Valuation
- Get quotes
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How much can I borrow
Lenders have changed the way they review mortgage applications. Nowadays, lenders will focus more on the affordability of the mortgage. Lenders will often request the following during an application:
- Details of your employment
- Your income
- Your monthly outgoings
If you need a £200,000 mortgage, find our mortgage table above that shows the best mortgage deals available.
How to calculate mortgage repayments
What you pay each month is an important factor when deciding what mortgage you want to take out.
If you need to work out how much you will pay on your mortgage, then use our mortgage calculator to find out the size of your monthly repayments.
Simply input the following information into the mortgage calculator above to see what you will pay each month:
- The purpose of your mortgage
- The value of the property
- The amount you wish to borrow
- The type of mortgage you want
- Your preference on capital and interest or interest only mortgage
- The length of mortgage
What is a fixed rate mortgage
A fixed rate mortgage is a mortgage that offers a set interest rate for a fixed term. High street banks often offer fixed rate mortgages for 2,3,5 or 10 years.
Getting a fixed interest rate for a prolonged period allows you to know exactly how much you will pay each month.
It should be noted that interest rates are liable to fluctuate over the years, and therefore a good interest rate today may not continue to be good for the duration of your fixed rate period.
What is a tracker rate mortgage
Tracker mortgages are mortgages with interest rates that vary throughout the term. Tracker mortgages’ interest rates are heavily dependent on the Bank of England’s base interest rate.
Repayment or interest only
Interest only mortgages are mortgages that only require you to pay the interest on a mortgage, which results in lower monthly mortgage payments than most other mortgages. However, as a trade-off, interest only mortgages do not provide the opportunity to own the property at the end of the mortgage.
Repayment mortgages are mortgages that require you to pay both the capital and the interest of a mortgage, which results in high monthly mortgage payments. Repayment mortgages may be a good option for you if you want to ultimately own the property outright.
Making overpayments
Making overpayments can allow you to repay your mortgage quickly. Some lenders are flexible and allow overpayments, whereas others charge early repayment penalties. Therefore, it is always advisable to check with your mortgage provider before making any overpayments.
If you want to explore your mortgage options, it is a good idea to speak to an independent mortgage broker who will be able to offer impartial advice.