How much is a £60,000 Mortgage?
A number of factors are involved with taking out a mortgage, the length of repayment, the interest on the loan and most importantly how much to take out in the first place. For a mortgage of £60k the costs of repayment can vary dramatically when the different criteria is applied.
To ensure that the path you take is the right one, it is vital to understand how it will effect you financially for the future – jump over to our calculator journey to get an accurate picture for you.
As a result, we have created repayment tables showing the different costs involved when taking out a mortgage of £60,000. Each table represents the costs at a different interest rate, ranging from 1% to 5% each including lengths of repayment from 15 to 30 years. We also felt it was essential to provide a number of initial mortgage values to improve your insight of the options available.
Tables showing values of £60,000 up to £70,000 are all shown below.
1% Repayment Rate
| 1% | 15yr | 20yr | 25yr | 30yr |
| 60000 | £359.10 | £275.94 | £226.12 | £192.98 |
| 61000 | £365.08 | £280.54 | £229.89 | £196.20 |
| 62000 | £371.07 | £285.13 | £233.66 | £199.42 |
| 63000 | £377.05 | £289.73 | £237.43 | £202.63 |
| 64000 | £383.04 | £294.33 | £241.20 | £205.85 |
| 65000 | £389.02 | £298.93 | £244.97 | £209.07 |
| 66000 | £395.01 | £303.53 | £248.74 | £212.28 |
| 67000 | £400.99 | £308.13 | £252.50 | £215.50 |
| 68000 | £406.98 | £312.73 | £256.27 | £218.71 |
| 69000 | £412.96 | £317.33 | £260.04 | £221.93 |
| 70000 | £418.95 | £321.93 | £263.81 | £225.15 |
2% Repayment Rate
| 2% | 15yr | 20yr | 25yr | 30yr |
| 60000 | £386.11 | £303.53 | £254.31 | £221.77 |
| 61000 | £392.54 | £308.59 | £258.55 | £225.47 |
| 62000 | £398.98 | £313.65 | £262.79 | £229.16 |
| 63000 | £405.41 | £318.71 | £267.03 | £232.86 |
| 64000 | £411.85 | £323.77 | £271.27 | £236.56 |
| 65000 | £418.28 | £328.82 | £275.51 | £240.25 |
| 66000 | £424.72 | £333.88 | £279.74 | £243.95 |
| 67000 | £431.15 | £338.94 | £283.98 | £247.65 |
| 68000 | £437.59 | £344.00 | £288.22 | £251.34 |
| 69000 | £444.02 | £349.06 | £292.46 | £255.04 |
| 70000 | £450.46 | £354.12 | £296.70 | £258.73 |
3% Repayment Rate
| 3% | 15yr | 20yr | 25yr | 30yr |
| 60000 | £414.35 | £332.76 | £284.53 | £252.96 |
| 61000 | £421.25 | £338.30 | £289.27 | £257.18 |
| 62000 | £428.16 | £343.85 | £294.01 | £261.39 |
| 63000 | £435.07 | £349.40 | £298.75 | £265.61 |
| 64000 | £441.97 | £354.94 | £303.50 | £269.83 |
| 65000 | £448.88 | £360.49 | £308.24 | £274.04 |
| 66000 | £455.78 | £366.03 | £312.98 | £278.26 |
| 67000 | £462.69 | £371.58 | £317.72 | £282.47 |
| 68000 | £469.60 | £377.13 | £322.46 | £286.69 |
| 69000 | £476.50 | £382.67 | £327.21 | £290.91 |
| 70000 | £483.41 | £388.22 | £331.95 | £295.12 |
4% Repayment Rate
| 4% | 15yr | 20yr | 25yr | 30yr |
| 60000 | £443.81 | £363.59 | £316.70 | £286.45 |
| 61000 | £451.21 | £369.65 | £321.98 | £291.22 |
| 62000 | £458.61 | £375.71 | £327.26 | £296.00 |
| 63000 | £466.00 | £381.77 | £332.54 | £300.77 |
| 64000 | £473.40 | £387.83 | £337.82 | £305.55 |
| 65000 | £480.80 | £393.89 | £343.09 | £310.32 |
| 66000 | £488.19 | £399.95 | £348.37 | £315.09 |
| 67000 | £495.59 | £406.01 | £353.65 | £319.87 |
| 68000 | £502.99 | £412.07 | £358.93 | £324.64 |
| 69000 | £510.38 | £418.13 | £364.21 | £329.42 |
| 70000 | £517.78 | £424.19 | £369.49 | £334.19 |
5% Repayment Rate
| 5% | 15yr | 20yr | 25yr | 30yr |
| 60000 | £474.48 | £395.97 | £350.75 | £322.09 |
| 61000 | £482.38 | £402.57 | £356.60 | £327.46 |
| 62000 | £490.29 | £409.17 | £362.45 | £332.83 |
| 63000 | £498.20 | £415.77 | £368.29 | £338.20 |
| 64000 | £506.11 | £422.37 | £374.14 | £343.57 |
| 65000 | £514.02 | £428.97 | £379.98 | £348.93 |
| 66000 | £521.92 | £435.57 | £385.83 | £354.30 |
| 67000 | £529.83 | £442.17 | £391.68 | £359.67 |
| 68000 | £537.74 | £448.77 | £397.52 | £365.04 |
| 69000 | £545.65 | £455.37 | £403.37 | £370.41 |
| 70000 | £553.56 | £461.97 | £409.21 | £375.78 |
Can I get a mortgage for £60,000?
Yes, it may be possible for you to get a £60,000 mortgage. If you’ve saved up a significant deposit and you’re looking for a smaller mortgage to purchase a property, lenders will look on you favourably and you may secure a better interest rate.
If you already have an existing mortgage and wish to take out another mortgage to purchase a more expensive home or a second property, mortgage lenders will tend to have stricter requirements.
For more information, speak to an expert for an initial free consultation.
Expert Advice on Your Next Steps
The endless choices accessible to you from firms can be quite daunting, making sure you are not being ripped off is at the top of your list. Borrowing £60,000 can be different from firm to firm and it is our job to make sure you decide on the right one.
To make sure we direct you in the right way, we have provided an online searching system to explore the market in detail to find the most appropriate plan possible.
As simple as it looks, all that is required of you is to enter the mortgage value you want, along with some other information and click search. All deals related to your search from the current market are shown right in front of you.
One click of the ‘enquire’ button and it is all systems go from there onwards.
Updated: 24th August 2020
OnlineMortgageAdvisor 2020 ©
