Borrow £200,000 Over 5, 10, 15, 20 Or 25 Years.
Low Rate 200K Fixed & Tracker Mortgages / Remortgages.
Purchase Mortgages, First Time Buyers & Home Mover Lenders.
Get Your Monthly Payments Before You Decide To Accept.
Find out if you can obtain a £200,000 mortgage and your monthly repayments before you decide to go ahead. Our clients have already obtained over £1 Billion in mortgages across the UK. There are a number of different factors which lenders, when considering a mortgage of £200,000, will use to establish whether or not you are eligible and will be accepted. Knowing the best fit for you is where our 25 years of experience is invaluable. For example, income and affordability play a key role along with your previous credit history and deposit size. Whilst there are plenty of important ingredients for a successful mortgage application, there are a lot of lenders competing for your business who have their own nuances - and not all of these will deal with the public directly. This can give you additional mortgage options. Some of our lenders mortgage and remortgage plans are now available up to 95% loan to value. If you have a slightly bigger deposit our mortgage panel may also approve your mortgage at a competitive rate even if you have unfortunately incurred defaults, arrears or CCJ`s.
Repayment Examples For £200,000 Mortgage
Whether you are looking to switch your current mortgage for a better / fixed rate, are looking to move home or spend some of your equity - one thing will always be the same, you will want to achieve one of the most competitive and cost effective rates for your circumstances. Some of the best £200,000 mortgage rates start at around 1.3% (subject to status and equity levels).
We are a UK based and owned company established back in 1988 - you can utilise our extensive lenders to find you the best mortgage plan. We have even helped customers who have been refused a mortgage elsewhere to take out a £200,000 mortgage.
A little experienced help can make all the difference, besides you`ll need to be focusing on your feng shui! It isn`t just for if you are intending to move house, taking out a mortgage particularly for a loan amount of approximately £200,000 is likely to be one of the biggest financial decisions you will make and consequently shouldn`t be taken lightly. Complete our short no credit check on line enquiry form and we can get the ball rolling.If you would like further information or some friendly advice, then contact us on 0333 003 1505 from a mobile or if you are calling from a landline on 0800 298 3000 (free phone) to speak to one of our knowledgeable mortgage advisers and the finance support team.
£200,000 Mortgage Repayment Amounts
Having a specialist mortgage adviser to explain the ins and outs along with giving you expert advice to establish the best possible mortgage for your individual needs and circumstance can be indispensable.
We will work hard to give you the best advice and provide you with free quotes on a £200,000 mortgage or a suitable home loan amount of a different size, to allow you to see the facts, figures and costs before you decide to go ahead.
Deposits Or Equity To Borrow £200,000 How Does It Work?
To be eligible for a mortgage one important part of the qualifying criteria is that if you are looking to purchase a mortgage you have a deposit or if you are looking to remortgage you have some equity available in the property. Essentially, a deposit equals what equity you have in your existing or future property and equity is simply the value of the interest of the property that you own outright (the difference between any loan you might have secured and the property`s value), it`s that simple. Lenders typically ask for a minimum of 5% of the property`s value but the more you have generally the better interest rate that you can achieve. There are currently both purchase and remortgage deals out there up to 95% LTV. Here are a few different examples of the deposit/equity values when buying a home valued at £250,000:
5% deposit = Amount you need as a deposit is £12,500
10% deposit = Amount you need as a deposit is £25,000
20% deposit = Amount you need as a deposit is £50,000
25% deposit = Amount you need as a deposit is £62,500
So, for example, if you had 20% equity in a property valued at £250,000 your loan to value would be 80% LTV and you would require a 200,000 mortgage. Bear in mind you will need other funds as well as a deposit to cover the extra costs associated with your mortgage or remortgage. These can include removal fees, lender product fees, valuation fees, intermediary fees and solicitors fees. Talk to our UK mortgage advice team confidentially about the overall costs before you decide to go ahead.
Looking at the numbers can help but mortgage interest rates on offer at any one time can change on a daily basis. If you have seen a few interest rates that you would like to calculate the repayment on, head over to our repayment calculator to crunch the numbers for you. Alternatively, if you would like to see the most recent mortgage interest rates all in one place for an accurate figure, simply give us a call on 0800 298 3000 (landline) 0333 003 1505 (mobile friendly). Our technical sourcing systems can get you these figures in just a short time.
Properties By Area That £200,000 Mortgages Bought
The housing market is definitely picking up pace and a 200,000 mortgage can purchase you a whole host of different properties across the UK. If we take a look at some of the more popular housing markets across the UK there are many examples of recently sold properties, being bought up by home movers and landlords alike. According to Rightmove a 4 bed semi detached property based in Manchester sold in July 2014 for £249,950. If you had a deposit of £30,000 with a mortgage for £200,000 you could have recently bought a 2 bed semi detached property in exclusive area of Cheshire which sold in July 2014 for £230,000. If you head to the midlands you could have picked up an 3 bedroom period end terrace property which sold on the 21st of July 2014 for £200,500. Further south to the booming housing market in London the same 200,000 mortgage could get you a 1 bedroom flat in Ellesmere Court which sold in July 2014 for £238,000.
They say that when you have found your dream home, you just know. Just like falling in love. When you know the one, you don`t want to risk losing it and the housing market can be a precarious one to navigate. To avoid letting anything risk your new purchase get your mortgage sorted in advance. Simply fill in the 1 minute online application form at the top of the page, once we have received your enquiry you will be contacted by our specialist team and passed through to your dedicated mortgage adviser, who will walk you through the process and ensure that the mortgage is not something for you to worry about.
Capital Raising With A £200,000 Remortgage
A 200,000 mortgage isn`t just available to those looking to purchase a new property. If you have the equity available in your property to raise £200,000 a remortgage could be a way for you to release that equity and raise for a whole host of different things. Capital raising for a holiday home or certain home improvements like a house extension or loft conversion could be the type of thing that would warrant raising a mortgage for this amount. On the other hand you could also use the equity to consolidate outstanding debts. A 200,000 remortgage is often enough to pay off your existing mortgage and added expensive debts like high interest credit cards which could save you money on a monthly basis. If either of these seems like the situation you are currently facing or even if yours is a more complex one, it is likely we will be able to explore some possible solutions for you. Contact the office on 0800 298 3000 (landline) 0333 003 1505 (mobile friendly).
Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee)
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS
AGAINST YOUR HOME.
YOUR HOME MAY BE
REPOSSESSED IF YOU DO
NOT KEEP UP REPAYMENTS
ON YOUR MORTGAGE.
Security is required on
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.