The loan payment calculator table below shows example monthly payments for loans of £45,000 showing various interest rates and loan terms.
This is the question most people want the answer to when they're looking at obtaining a mortgage or loan. Hopefully the payment tables on this page will give you an idea of the monthly costs for the different mortgage types listed. If you are looking to remortgage or raise capital, buy a new property for you and your family, or if you are looking at a new property investment, we hope you'll find the payment tables informative. The payments have been worked out using our onsite calculators and should give you an indication of the monthly payments for a mortgage of £45,000, for your convenience we have listed various payment terms and interest rates.
|Secured loan payments|
|4.19 %||4.55 %||5.9 %|
Mortgage repayments for £45,000
|0.99 %||1.5 %||3 %|
|£45,000 buy to let mortgage repayments|
|1.73 %||2.25 %||3.8 %|
|3.45 %||4.6 %||6 %|
|Bridging loan mortgages for £45,000|
|0.4 %||0.75 %||1 %|
As bridging loans are interest only, the loan term wouldn’t alter the monthly payments.
Roll up options available – (no monthly payments, interest is paid at the end of the term)
This is probably one of the most important questions you will need to ask yourself when applying for a £45k mortgage or loan - your broker and the lender will asses your income inline with the lenders affordability model, however you also need to be confident you can afford the monthly payments. Lenders tend to work out what you can afford in various different ways, but in short, they will typically use a combination of income multiples (although this is becoming less common) and some form of income calculation. This may simply consist of working out how much money you have left each month once your monthly creditors and debts have been paid or it could be a full income and expenditure assesment (which is becoming the norm), whichever way the lender chooses to assess your affordability, your broker should be able to work with you to find a suitable mortgage or loan depending on your source of income (for example; self employed, PAYE or on contract) and the loan amount.
Loans are typically available for any purpose such as home improvements, development, raising business capital or financing a holiday of a lifetime.
Loan payments for £45,000 and the rates available to you will be influenced by various aspects of the application, the main ones being the loan to value (LTV) you require & your credit rating, generally speaking however, the lower the LTV and the better the credit rating, the better the rate.
If you feel like discussing things further, or simply want some advice you should speak to a mortgage or loan professional who has access to the type of finance you are looking for (such remortgage or buy to let).
Whilst mortgage illustrations may be obtained from various sources (such as a bank or building society), getting one that best suits your needs by searching various lenders is made much easier by speaking to a qualified, experienced adviser with access to many lenders. Getting that illustration agreed in principal, then submitting an application and moving onto completion can be daunting for some. There is generally too much information to factor in to make sure someone gets the best deal without speaking to a qualified adviser - Simply applying for a mortgage online will rarely obtain the best results. You should consider your financial attitude to risk and the lending criteria. Lender stress testing for example - which a lender will work into your affordability for a £45,000 mortgage application .
If you would like further information, require an accurate mortgage or loan illustration tailored to your needs or just want to discuss your situation with an experienced professional, simply complete the form below and we will call you back!