When taking out a mortgage loan, you might be interested in knowing how much money you are actually paying for every thousand pounds you borrow. The amount you pay for every thousand pounds will change depending upon the total amount of your loan. let us say you borrow £250,000.00 on a 30 year loan at 5.000% interest. With this amount being borrowed, you would pay a total of £483,139.46 for the loan. This means you will pay £5.37 each month for every thousand pounds borrowed. Every year, you would pay £64.42 per thousand pounds financed. Throughout the life of the loan, this would mean you have spent £1,932.56 for every thousand pounds.
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