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How much home do you own?

Updated Wednesday, 26 November 2008
You pay your mortgage, month-in, month out - but how much home do you own?

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Buying a house on a mortgage can be a slow process - especially in the early days of the loan, when a large portion of your monthly payment goes to paying off interest rather than repaying the loan. So just how much of 'your' home do you own year-by-year?

This is, of course, just a rough illustration - and is based on certain assumptions:
According to the Council Of Mortgage Lenders, the median price for a house bought on a mortgage as of May 2008 was £218,151 with a loan to value of 78%. We've rounded these to £220,000 and 80%. We're also making the (unlikely) assumptions that the actual value of the house and your interest rate won't change over the length of the mortgage.

Find out more

Video: Is it more cost-effective to buy or rent?

 

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