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I am a first time buyer with a deposit of £15K. I earn £34K. I am looking to get a mortgage of 3.4 times my salary (£115,600) but I am wondering how much I’ll have to repay each month. I’d ideally like to buy a property for around 130K. Should I really save some more so I can afford this or will the repayments be manageable? This is my first time so I’m pretty clueless here!

3 Thoughts on How much will my mortgage repayments be?
  1. Reply
    Tigg
    April 12, 2012 at 1:20 am

    Wait and save some more.

  2. Reply
    mazi385
    April 12, 2012 at 1:34 am

    u might as well buy abroad trust me you will be buying a better property & a good way of life. These days I think it is worthless & pointless to buy property in the uk no matter how much the house prices go down. it just aint worth it. uk has become nasty place to live.
    With the amount of money u have please dont waste it here!

  3. Reply
    WelshLad
    April 12, 2012 at 2:21 am

    It all depends on:
    Interest rate
    Length of loan
    How much is borrowed

    Play with the figures using a mortgage calculator:
    http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml

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