We agree with the contractor that the damages resulting from increased interest rates are consequential damages. Increases in interest rates are not caused by delays in completion of construction contracts.
So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment. Hereâs an example: If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.
So for a Â£200,000 house you would need to have Â£20,000 in savings for a 90% mortgage or Â£10,000 in savings for a 95% mortgage. However 100% mortgages, where you donât need any deposit, are virtually non-existent unless you have additional financial help from your family.n adviser will be able to talk you through your options and help you find the best deal. To get the most competitive mortgage deals on the market you will usually need a deposit of 25% upwards and some of the best deals require 30% or even 40% deposits.