Nationwide Mortgage Calculator
Use the UK’s Best Nationwide Mortgage Calculator & Save
We can almost always beat any existing Mortgage quote. Try us now.
Get a FREE Mortgage Quote Below 👇
So Why Should You Compare Quotes Before Choosing a Mortgage ?
Most Popular Reasons for Taking Out a Mortgage
Want To Chat ?
Chat with our Mortgage Consultant Now
* We’ll get a specialist to give you a ring.
Although there are many different mortgages available for homes, they can all be split into these main categories.
Over the period or term of your mortgage, every month, year after year you steadily pay back the money you’ve borrowed, along with interest.2
Over the term of your mortgage,3 you only pay off the interest. You you don’t actually pay off any of the mortgage. The monthly payments will be lower, but won’t reduce the capital you owe.
Fixed Rate Mortgage
With a fixed rate mortgage, your lender guarantees your interest rate will stay the same ‘fixed’4 for a set amount of time. Normally this guarantee is capped between 1–10 years.
Standard Variable Rate (SVR) Mortgage
SVR is a lender’s default. No deals, bells or whistles are included. Each provider is free to set their own SVR, and adjust it when they like.
Discounted Rate Mortgage
You get a discount on the lender’s SVR over a set period of time. This is a type of variable rate, so the amount you pay each month can change if the lender changes their SVR, which they’re free to do as they like.
They are a type of variable rate mortgages, which means you will probably pay a different amount to your lender each month. Tracker rates follow a particular interest rate to determine what you pay each month, then adding a fixed amount on top of that base rate.
Capped Rate Mortgage
These are variable mortgages, with a limit or ‘cap’ on how high the interest rate can rise. Often, the interest rate is higher than a tracker mortgage – so you might end up paying extra for that peace of mind.
When you sign up to your mortgage, the lender pays you a lump sum5 of cash (usually, a percentage of your loan).
These allow you to overpay and underpay and even take a payment holiday (skip a few monthly payments) if required.
This is a way to use your savings to reduce the amount of interest you pay on your mortgage. You need to turn your mortgage into an offset mortgage, open a current or savings account with your mortgage lender and link that account and your mortgage up.
Get in touch to get more information.
With these loans, you can use the money to raise funds to buy real estate, or alternatively if you’re an existing property owner you can raise funds for any purpose, while putting a lien on the property being loaned.
Note that these plans may not be right for everyone and it is important that you fully consider your options and receive independent financial advice before making a decision. It is also important that, if you do decide to use this kind of product, you choose one that meets your needs.
Remember that taking a mortgage is generally a long term option. However, there are many plans available that may fit your varying needs.
A financial adviser can help you to choose the plan that is right for you.
Use Some of Your Home's Value to Live Life Your Way
Working out how much you can borrow from a leder is not straight forward. It’s no longer a case of simply multiplying your salary by a certain number to arrive at the ‘magic number’.
However, here is a list of eight things that impact how much you can borrow.
- Credit Cards – If you use a credit card, it is always best to pay it off in full each month
- Personal Loans & Hire Purchase – The monthly payment you make will be subtracted from your income, in turn reducing the level of disposable income from which to make a mortgage payment.
- Pension Payments – there is no standard approach from mortgage loaners when looking at these payments. Some will view the payment in the same way as a loan – they will reduce the monthly income.
- Children – the more people reliant on the income, the more this can reduce the maximum loan available.
- Credit Score – mortgage brokers will gather data from the credit reference agencies & this will impact the amount you can borrow.
- Term – the longer the term the more you can borrow.
- Deposit – the more deposit or equity you have, the more you can borrow or the more favourable remuneration the you can get.
- Income – the more you earn the more you can borrow. However, not all income is treated equally. Payments from bonus, commission, overtime, shift allowance, self-employment are all looked at differently to basic salary.
There are a few variables but the biggest are the term, deposit and income. Find out how much you can borrow using the FREE mortgage calculator
If you’re tired of monthly mortgage payments, a Nationwide mortgage might be a fantastic way for you to pay back that mortgage quickly. This is one of the many reasons people choose a mortgage product.
Things change. If you’ve released equity from your home in the past, you can often save a massive amount by getting a lower interest rate. Get a quotation and find out if you qualify for a lower rate.
What People Say
SovereignBoss is perhaps one of the most comprehensive mortgage portals for one reason: apply and within moments you’ll get connected with the nationwide financiers without any extra work on your part.
PS – If you’re anything like us, you just skipped to the end anyway.
So here’s the scoop – we are offering to get you the highest quotation for mortgage from the top mortgage companies.