How to use mortgage calculator

Step 1
Once you know your purchase price i.e. $250,000, look at the buying guide to confirm the maximum loan to value. This will be expressed as a percentage, for example 70%. Multiply your purchase price by this figure i.e. $250,000 x 70% = $175,000.

Step 2
Input this figure (175,000) into the loan amount box, then input the interest rate, for example 5.0%. As these rates change regularly, please contact us to confirm this.

Step 3
Input the number of years you would like to take the mortgage over. You can check the maximum term by looking at the appropriate buying guide

Step 4
Click the calculate button.
You then see two figures, the first one is principle and interest payment, the second interest only. Note that not all lenders will allow you to take an interest only mortgage.

Also bear in mind that this figure is for the mortgage loan only, you will have taxes and insurances to go on top of this figure.
Please contact one of our advisers for a full breakdown of costs.