Average interest rate on five-year fixed mortgage deal is now above 6%, analysts say
monthly changeThe information you provided on your monthly payments would not be sufficient to pay off your mortgage within the number of years given.
This calculator does not constitute financial advice. It is based on a standard mortgage repayment formula based on the mortgage size and length and a fixed interest rate. It should be used as a guide only and does not represent the suitability, eligibility or availability of mortgage offers for users. For exact figures, users will need to approach an official mortgage lender.
. Borrowers will be able to make a temporary change to their mortgage terms, then will be able to return to their original deal within six months, allowing some to have lower repayments for a short time by just paying the interest on the home loan. Rising interest rates and mortgage costs weighed on UK economic growth in April, but Chancellor Jeremy HuntWhat happens if I miss a mortgage payment?Your lender must then treat you fairly by considering any requests about changing how you pay, perhaps with lower repayments for a short period
Any arrangement you come to will be reflected on your credit file - affecting your ability to borrow money in the future
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