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buying through newbuy

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  • buying through newbuy

    Hi, I'm just looking at the moment about buying a house through new buy scheme, have got all the money together yet though.
    I was looking for a bit of help in a few areas, really basic if possible.
    If I see a house for 100,000 and put a 5% deposit down, so have a 95% mortgage, I want to know how much I will have to pay a month? I don't know much if anything about interest rates etc, but if its around 1.98?? And its for 2 years how much do I pay a month? I know its really vague and may not have included all the right areas needed but any feedback would be really useful just can't quite get my head around it yet.

    Thanks

  • #2
    Re: buying through newbuy

    Mark2788,

    Play around with the "mortgage calculator" on the BBC website.

    I'd suggest you check the mortgage value on 7% interest rates in case things return to normal.

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