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How much does a £600,000 mortgage cost?
Trinity Financial has access to a wide range of banks and building societies offering £600,000 mortgages.
HSBC for Intermediaries has a leading 4.34% rate fixed until 31 August 2026 for borrowers able to put down a 40% deposit. This mortgage has a £999 arrangement fee and a free property valuation. The overall cost for comparison is 6% APRC.
The monthly repayments on a £600,000 interest-only mortgage would be approximately £2,170 increasing to £2,983.34 on a full capital repayment mortgage over a 30-year term.
HSBC offers interest-only mortgages to borrowers, although at least one applicant will need to earn £100,000 to qualify. If you do not earn £100,000, our brokers can access other lenders offering no minimum income interest-only mortgages.
How much is a £600,000 mortgage if you have a 25% deposit?
HSBC for Intermediaries is also offering a 4.06% fixed rate until 31 August 2028, and it is available to borrowers looking for a £600,000+ mortgage. The lender requires a 25% deposit, and the arrangement fee is £999. The overall cost for comparison is 6% APRC.
If you wanted to borrow £600,000 over a 30-year term on full capital repayment, the monthly repayments would cost £2,885.29 or £2,030 a month on interest-only. This is over a 30-year term.
HSBC provides some of the most generous income multiples for borrowers and offers up to 5.5 times salary for single and joint applications, providing applicants earn over £100,000. The bank also offers 4.75 times salary mortgages to those earning over £45,000.
Banks and building societies tend to offer most of their mortgage rates to a maximum of £1 million, so we have access to a range of products if you want to borrow around £600,000.
Are £600,000 mortgages cheaper than the Bank of England base rate?
Aaron Strutt, product director at Trinity Financial, says: "Many mortgage lenders offer fixed rates priced around or below the 4.5% Bank of England base rate. Five-year fixes tend to be cheaper than two-year fixes and trackers.
"Interest-only is widely available across the mortgage market. Our brokers are arranging lots of part interest-only and part capital repayment mortgages to help our clients reduce their monthly payments."
Call Trinity Financial on 020 7016 0790 to secure a £750,000 mortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Some of the lenders are happy to provide lower deposit and larger loan mortgages.
Accord for Intermediaries, Clydesdale for Intermediaries and Nationwide for Intermediaries are just some of the lenders our brokers have access to providing £600,000 mortgages for those with a 20% deposit.
Is it possible to get a £600,000 mortgage with a 15% or 10% deposit?
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