Cost of housing calculator
Peterborough housing offers amazing value for money. Use our calculator to see what your money will buy in Peterborough and compare it to other UK locations.
Step 1. Select the total purchase price which you can afford from the box ‘Amount’
Step 2. Hit ‘go’
Amount
Repayment mortgage:
Interest only mortgage:
At 7.25% a repayment mortgage costs:
At 7.25% interest only payments will be:
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.