What does the home cost per month?
Move the sliders and see the monthly cost at once: interest, amortisation and the company charge. Not the asking price, but what you actually pay each month.
At least 10 % of the price
Operating plus financing charge
Adjust rate
Default: average mortgage rate
The bank tests at about a 6 % calculation rate
How we calculate
The monthly cost is the figure you actually compare between homes, not the asking price. It has three parts: interest on the loan, amortisation (mandatory, but it is saving that cuts your debt) and the company charge or running costs.
The company charge has two parts
In an apartment the company charge is the operating charge (upkeep) plus the financing charge (paying down the housing company loan). A large debt share shows up as a high financing charge, so read both separately in the manager certificate.
Always stress-test
Rates move. Tap the stress test to see the monthly cost at about a 6 % calculation rate, the level the bank uses when assessing your application. If your budget survives that, you are on solid ground.
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