I created a table here of Mortgage Payments to show how much you can expect to pay on your mortgage loan. It also shows how much the monthly payment is likely to increase by, after a quarter point rise in interest rates. I included the monthly payments for an interest rate of 8%. I doubt this is likely to occur, however, it is always worth bearing in mind a worst case scenario. If you could not afford repayments at this rate, it may be worth getting a fixed rate mortgage.
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