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Why Choose Us
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.
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Looking into borrowing £420k for a home? Your monthly payment can change based on several things:
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:
Based on a mortgage of £300,000 at 75% LTV and 25 years
Speak with Us | Interest Rate | Mortgage Type | Monthly Repayment Amount | Total Fees | Max LTV |
---|---|---|---|---|---|
3.79% | Fixed | £1,174 | £335 | 75% | |
3.86% | Fixed | £1,178 | £1,499 | 75% | |
3.89% | Fixed | £1,180 | £1,025 | 75% | |
3.89% | Fixed | £1,180 | £1,079 | 75% |
To get a mortgage for £420,000, you’ll need to:
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.
The interest rate is crucial because:
Mortgages come in different forms:
Yes, a broker like Ascot Mortgages can:
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.
Get things moving, apply for a remortgage.
Free unbiased mortgage advice is just a phone call away.
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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Legal
Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT
©2024 AscotMortgages.co.uk – All Rights Reserved
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