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Peterborough offers a wide range of homes – from city centre to rural village
– at startlingly good value prices.
Notes:
1. Remember, mortgage rates can go up as well as down.
2. Property prices are taken from Land Registry data – see www.landregistry.gov.uk. Crown copyright acknowledged.
3. The publishers accept no liability for errors in data or calculations. Email
comments or queries to info@opportunitypeterborough.co.uk.
Property price data updated in November 2006.
4.(a) The above figures assume an annual rest type mortgage which recalculates
mortgage payments once a year. As such they may slightly overstate the monthly payments
for more flexible mortgages, offering monthly or even daily recalculation of payments.
The average interest rate over the past 10 years has been 7.25%.
4.(b) A repayment mortgage is one where mortgage payments cover both interest
costs and repayment of the original loan, so that the mortgage amount decreases
over time. An interest only mortgage is one where mortgage payments only cover interest
costs. With interest only loans, the mortgage amount does not automatically decrease
over time. Frequently, borrowers will set up an ISA, endowment or some other investment
product (at additional cost), designed to repay the loan at the end of its term.
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