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At Ascot Mortgages, we make buying a home easy for you. If you’re thinking about borrowing £420,000 for a house, or if you just want to know how repayments work, you’re in the right place. Thinking of making the leap? We’re ready to chat whenever you are.

What Our Clients Say About Us

5.0 Based on 145 reviews from review us onElliot E. ★★★★★ Phil Greenwood was fantastic in assisting us in getting our BTL mortgage when several other mortgage brokers were not able to, given our particular circumstances and self employed status. From starting with an initial call right through to the finish, communication was excellent and we're absolutely thrilled. Thank you, Ascot Mortgages for such a professional service.vanessa G. ★★★★★ We had great experience with Natalia. She provided prompt and excellent service throughout our house purchase process.We highly recommend Natalia for mortgage adviseFlora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Debbie P. ★★★★★ Cannot speak highly enough of Ascot Mortgages who have helped me on my journey over the last seven years. They have made the dream property possible twice. Thank you to Alison, Jardelle and all the team. I am very grateful.Areti D. ★★★★★ Absolutely thrilled with the exceptional service provided by Ascot Mortgages Ltd and especially by Natalia Barry! Even though our home purchase hasn't been completed yet, we couldn't wait to share our positive experience. From the moment we reached out, their professionalism and expertise shone through, making the daunting process of securing a mortgage a breeze.Not only did Natalia navigate the intricacies of the mortgage market with finesse, but they went above and beyond by suggesting other high-quality services, including solicitors and insurance providers. This comprehensive approach is making the entire home-buying journey seamless and stress-free.Natalia took the time to understand our unique needs and financial situation, ensuring that the options presented were tailored perfectly.Communication is prompt and clear throughout, leaving us feeling informed and confident at every stage. Natalia had our best interests at heart, going the extra mile to secure a fantastic mortgage deal.We cannot recommend Ascot Mortgages and Natalia highly enough. If you're in need of mortgage assistance, look no further. With their expertise and dedication to client satisfaction, you're in the best hands possible. A huge thank you to Natalia for making our home-buying experience a dream come true!Ashley Cox 1. ★★★★★ Would 100% recommend. Myself and my partner are currently going through the mortgage process as first time buyers. Natalia Barry has dealt with our application from day one. She has always been on hand to help, informative throughout and reliable when we have had questions. She has given us several options and broken them down into simple terms to help us. Natalia has truly been exceptional who deserves every bit of credit. We certainly got lucky having her as our first mortgage consultant.Dominik S. ★★★★★ Alison and the Ascot Team are excellent. I have used them for 5 years now and they deliver the most competitive mortgage deals fast. Just what I need. Thank you!Eric T. ★★★★★ We have dealt with Ascot Mortgages twice. Once for a mortgage about eleven years ago and recently for life insurance.In both cases we were treated with the utmost respect and professionalism.In the case of the life insurance application, we considered ourselves to be problem customers because of our age and numerous health issues.Richard Johnson, who managed this application couldn't have been more helpful.He worked in our best interest and was dedicated to providing an excellent service.We were kept up to date through all of the stages of the application and when our doctors were very slow in producing medical reports for the insurance company he persisted where others might have given up.The service we had from Richard was pleasant and professional throughout some difficult stages.My wife and I have no hesitation in recommending Ascot Mortgages.Zack R. ★★★★★ Having dealt with Ascot Mortgages and Alison for many years now I can say that you wont find a more professional, knowledgeable and efficient company to help with your mortgage. Alison is patient and makes the whole process seem easy. She has the answer to any question you have and seems to genuinely care. I can not recommend enough. I am sure I will be using Ascot Mortgages for years to come.Umair Z. ★★★★★ It has been a fantastic experience to work with both Phil and Jardelle at Ascot Mortgages to secure a mortgage product for my first home. Phil made the mortgage process smooth and easy. They are professionals and know what they are doing. Very pleased with the service and communication. would highly recommend them.Hello at NLP West M. ★★★★★ I needed a buy to let re-mortgage. Ascot were efficient from start to finish. I can recommend them completely especially because they can search the whole spectrum of mortgage lenders and meet the clients needs. never waiting for staff to get back and always kept me in the loop.Onohomen O. ★★★★★ ZHOU J. ★★★★★ It has been a brilliant experience to work with both Phil and Jardelle at Ascot Mortgages to secure a great mortgage product for our next home. Given how challenging the current market is, they have done a fantastic job to meet our needs with their expertise, professionalism and effectiveness. We would highly recommend their services to whom seeks help with their property purchase.Nicholas S. ★★★★★ Fantastic service. Ellie and Jardelle were always quick to reply to any queries and very helpful throughout the process. Highly recommend!Stacey S. ★★★★★ Jason was brilliant to work with! Always on top of the transaction! Would highly recommend 👍Scott ★★★★★ Although I've not bought anything yet, they (Jason in particular) have been super helpful in my search for the right mortgage deal, whilst also giving an honest opinion during these difficult times. Would highly recommend.Sandra I. ★★★★★ Fantastic from start to finish! Natalia and Jason found me the best rate for my remortgage and they were extremely efficient! Best service I’ve ever received from a brokerage company. Thanks so much.Virmantas N. ★★★★★ Amazing service and great communication. Ellie Morgan had quickly completed all requests and over delivered all expectations.Highly recommended for those who want to get the stuff done without any delays!David W. ★★★★★ I have used ascot for 3 renewals since they done helped me with my purchase which was complicated and will continue to use them going forward. Very fair prices and very helpful and knowledgeable even with just general information.Adam B. ★★★★★ Natalia made life very easy for us when remortgaging. Third time using ascot always a breezeTaff G. ★★★★★ Ascot Mortgages have been brilliant. Easy to work with and incredibly helpful. I am always happy to recommend them. Natalia and Jason have made the whole process much easier than I was expecting. Excellent service.Daryl L. ★★★★★ We've had a fantastic experience with Natalia Barry and Jason Jones at Ascot Mortgages for our property purchases and refinancing. Their expertise, coupled with genuine care and understanding of our needs, made the process smooth and stress-free.They were consistently communicative, keeping us informed at every step. Their assistance in consolidating our protection cover was invaluable, simplifying what could have been a complex process.What set them apart was their personal touch – always polite and ready to pick up the phone for a chat. This level of personal engagement is rare and much appreciated.In short, Natalia and Jason are not just skilled professionals but also truly dedicated to their clients. We highly recommend their services to anyone in need of mortgage advice.Sarah A. ★★★★★ I have used this firm for several years and they have always been super helpful and supportive, attentive and resolved issues in really useful ways. Shout out to Alison, Ellie and Jardelle (and the team!)Georgia W. ★★★★★ We worked with Ellie to secure our mortgage and protection, and she was a dream! Being a first time buyer, I was quite clueless about the process, and in a time where mortgage rates have been quite high, she worked right til the end to make sure we were getting our mortgage at the best possible rate and was always available to answer all questions I had. Can't recommend enough 🙂Richard D. ★★★★★ js_loader

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

03.03.2024

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

03.03.2024

Paying Back a £420,000 Mortgage

Looking into borrowing £420k for a home? Your monthly payment can change based on several things:

  • The interest rate
  • How long you take to pay it back (like 10, 15, 20, or 25 years)
  • What kind of mortgage it is
  • Your credit score
  • How much deposit you put down
  • Any extra fees for the mortgage

UK Mortgage Calculator for £420k

To give you a rough idea, let’s look at some example monthly payments:

Mortgage Term

Interest Rate

Monthly Repayment

Over 10 years

4.80%

£4,414

Over 15 years

4.80%

£3,278

Over 20 years

4.80%

£2,726

Over 25 years

4.80%

£2,406

(Note: These are hypothetical numbers. Use our free online calculator for a tailored estimate.)

To figure out the monthly repayments for a £420,000 mortgage:

  • Use our calculator.
  • Enter the amount you’re looking to borrow, which in this case is £420k.
  • Choose the length of time you want to pay it back – either over 10, 15, 20, or 25 years.
  • You’ll then get an estimate of your monthly payment.

Mortgage Repayment Calculator

How Can You Get a £420,000 Mortgage?

To get a mortgage for £420,000, you’ll need to:

  • Check your credit report to see where you stand.
  • Talk to a broker from Ascot Mortgages.
  • Work out how much money you can realistically borrow.
  • Look around for the best mortgage deal for you.
  • Wait for the lender to approve your application.
  • Understanding the Eligibility and Application Process for a £420k Mortgage Loan.

To be eligible for a £420,000 mortgage, you generally need to:

  • Have a reliable income.
  • Provide proof that you have a job.
  • Have a good credit rating.
  • Be able to afford the monthly payments.

The Application Process:

  • Pre-qualification: Get a rough idea of the amount you could borrow.
  • Mortgage Application: Send in your financial details to the lender.
  • Property Valuation: The lender checks how much the property you want to buy is worth.
  • Mortgage Offer: If they’re happy, they’ll make you a mortgage offer.
  • Finalise the Deal: Sign all the paperwork to complete the mortgage.

Alison Gibson

Ascot Mortgage Expert

Remortgage

Remortgaging is applied when you keep

living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.

Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.

Yearly Income Required for a £420,000 Mortgage

Lenders typically let you borrow up to 4 times your annual salary. So, for a £420k mortgage, you’d ideally need to earn £94,000 or more per year. Remember, other financial aspects are also considered, so it’s wise to speak with a professional adviser.

How Interest Rates Affect £420k Mortgage Repayments

The interest rate is crucial because:

  • Higher rates mean you’ll pay more each month.
  • Lower rates can save you a lot of money over the mortgage term.
  • Impact of Mortgage Term on Repayments

The length of your mortgage significantly affects your payments:

  • Short terms, like 10 years, mean higher monthly payments but less interest overall.
  • Longer terms, up to 25 years, result in lower monthly payments but more interest paid in total.

Mortgage Types and Monthly Repayments for £420k

Mortgages come in different forms:

  • Fixed-rate: Your interest rate stays the same for a set period.
  • Variable-rate: Your interest rate can go up or down.
  • Tracker: The rate changes in line with another rate, such as the Bank of England’s base rate.
  • Each type influences your monthly payments differently.

Repayment vs Interest-Only Mortgages for £420,000

  • With a repayment mortgage, you pay off the loan and interest together, leading to higher monthly costs but reducing the loan over time.
  • With an interest-only mortgage, your monthly payments are lower because you’re only paying the interest, leaving the original loan amount unchanged.

Can a Broker Help with a £420k Mortgage?

Yes, a broker like Ascot Mortgages can:

  • Provide expert advice suited to your situation.
  • Help find the best mortgage deals.
  • Simplify the application process for you.

Contact Ascot Mortgages about a £420k mortgage

Interested in a £420,000 mortgage? Get in touch with our experienced brokers for personalised advice that matches your financial situation, and let’s turn your dream of home ownership into reality.

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FAQ

At 4.80% interest over 25 years, expect around £2,406 per month. Use a calculator for precise figures and talk to a broker or lender.

At a 4.80% interest rate, monthly repayments would be about £3,278. Exact amounts vary based on your agreement.

Over 30 years, at 4.80% interest, monthly repayments could be around £2,204, but get a specific quote for your situation.

You’d need an income of roughly £94,000 to £105,000, depending on the lender’s criteria and your financial situation.

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