As well as those mentioned above – interest rate, loan term, deposit, mortgage type and repayment method – your repayments can also be affected by several other factors, such as your age and credit history. These could limit the number of lenders willing to consider your application.

For buy-to-let mortgages, most lenders typically require a minimum deposit of 20%. However, an experienced mortgage broker in this field may be able to identify lenders who ask for less.

As £60,000 is a relatively small sum for a mortgage, you’ll likely need a large deposit to be approved or have specific circumstances, such as being a retiree looking to downsize to a smaller property.

When patients need constant monitoring and intervention, nurses need constant connection. ProCuity – the only truly wireless hospital bed on the market – delivers. Connected ProCuity shares bed and surface data with your electronic health record, nurse call, clinical communication system and more.

Our expert medical device technicians help ensure your equipment is ready to perform when you need it. With preventive maintenance plans and tailored service support, we help you maximize the life of your equipment—and your investment.

Most residential mortgage lenders require a minimum deposit of around 5% to 10%. This percentage is based on the property value, not the mortgage amount.

You’ll also have the option to choose between a fixed rate vs a tracker mortgage. Usually, a fixed rate will be higher, increasing your monthly repayment. But, locking in a rate can allow you to plan your finances ahead of time. A tracker mortgage will match current interest rates, which could result in higher repayments if the rate is raised.

Many mainstream mortgage providers would consider this high and be reluctant to lend. Applying through a mortgage broker may be necessary to find a specialist low deposit mortgage lender.

† Requires ProCuity to be integrated with Vocera Engage intelligent middleware through our wireless system. Vocera Engage contains Engage Medical Device Alarm Notification (EMDAN), FDA 510(k)-cleared middleware, to deliver secondary alarm notifications.

A longer term results in smaller monthly repayments but you’ll pay more overall. The higher the interest rate, the more you’ll pay and if you get an interest-only mortgage, for example, you’ll only cover the interest charges, not the principal amount borrowed.

LTVs have a direct impact on the rates available to you - speak to a mortgage broker and find out how to get the best deal based on your ratio.

Although it’s possible to get a mortgage at almost any age, time on your side can lead to better deals from lenders. This could mean lower rates and monthly repayments for your £60,000 mortgage.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

With our intuitive, easy-access touch screen at the foot of the hospital bed, you’re never more than one screen away from the home screen and one touch away from the features you use most, including controls for the Isolibrium PE powered support surface. Help reduce errors with smart prompts – helpful reminders to save the patient’s weight, inflate the surface after CPR and more. The durable touchscreen is tested for resistance to impact and cleaning agents.

While concentrating on securing the mortgage itself, it’s easy to forget that monthly repayments are among the multiple costs involved in a mortgage application process. You’ll need to put aside money for the fees outlined below too.

Speak to one of the advisors we work with to get a rough idea of what you might repay. They can help you secure favourable terms and lower repayments than if you try to secure a mortgage yourself.

ProCuity has been tested with every nursecall system on the market today and integrates with most. Here are a list of the top 10 we see most often:

Designed to enhance safety and outcomes in MedSurg while delivering a better experience for care teams, with a focus on supporting fall prevention protocols.

Unique air pod and zoned sensor technologies help maximize pressure redistribution by adjusting based on the patient’s weight range and changes in position.

Stryker’s Isolibrium Support Surface Financial Guarantee is designed to reduce non-capital support surface costs for the hospital by 50% in the first year. If this goal is not achieved, Stryker will reimburse the hospital up to the difference between the guaranteed savings amount and the actual savings (reimbursement amount not to exceed the purchase price for Isolibrium).*

However, if you secure a mortgage with a longer term, 30 years, for example, the total amount you pay back will be higher but your monthly repayments will be smaller.

Stryker’s HAPI Financial Guarantee: Stryker guarantees participating facilities a 30% reduction of HAPIs (Stages 3, 4, unstageable, DTI) for patients using the Stryker Isolibrium/Isolibrium PE, IsoTour, IsoFlex LAL, Stryker IsoAir or Stryker Isolibrium Support Surface, for a guaranteed period.**

Our experts continuously monitor changes in the financial space and work closely with qualified mortgage advisors for factual verification.

For the purpose of this table, we assume the interest rate stays the same for the full length of the mortgage. Interest rates can change if you decide to remortgage on to a different rate or move from a fixed or discounted deal on to the lender’s standard variable rate (SVR).

Pete, a CeMAP-qualified mortgage advisor and an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete successfully went the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained and his love of helping people reach their goals led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

This calculator can tell you the monthly and overall cost of your mortgage, based on the loan amount, interest rate, and term length.

Getting the most competitive interest rates will rely on a lender seeing you as a trustworthy borrower. A broker would be able to advise on how to put forward a strong mortgage application whilst sharing which mortgage providers are currently offering the best rates.

Our air channeling technology delivers unobstructed low-air loss toward areas where the patient is most vulnerable to skin breakdown.

Use this calculator to determine how much you could potentially borrow for a mortgage, based on the typical salary multiples used by most UK lenders.

If you have blots on your credit history, this might result in your lender charging you a higher interest rate to mitigate the risk of lending to you. A broker specialising in mortgages with bad credit can help you find the best rates given your circumstances.

In general, the amount you can borrow is based on your salary. Most lenders will loan around 4 or 4.5 times your annual income. Based on these figures, you’d need an annual income of at least £15,000 to be approved for a £60,000 mortgage. This is below the average UK annual salary, currently £34,900 (October 2024).

You’ll also need a higher deposit of around 25% if you have issues with bad credit or you’re looking to get a mortgage for a non-standard construction property. Bear in mind, this will limit the choice of lenders available to you.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!

Once you’ve found a property and made some calculations, the next step in your mortgage application should be to find an experienced mortgage broker. This will boost your chances of getting approved at the best terms available.

For example, you might want to consider getting a joint mortgage with a partner if you’re unsure whether you’ll meet the lender’s eligibility criteria. This will allow you to use your combined earnings to reach the minimum income requirements set by lenders.

Sidenote: Some lenders will cover some fees on your behalf. A broker can advise on what circumstances would allow for the waiving of the fees and which lenders do so.

Working across departments as one seamless support system, ProCuity helps make standardization across your hospital easier and can even improve your ROI – helping reduce the added cost for specialty rentals and the need for bed transfers and extra staff.

We may receive a commission or fee from any third party partner firm we introduce you to. We may also receive commission that will vary depending on the lender, product or permissible factors if we provide the advice ourselves. The nature of any commission model will be confirmed with you before you proceed with a mortgage.

2. Maass A, Dundalow JL. Case study: Quality Improvement Using Support Surfaces Effectively Decreases the Incidence of Hospital-Acquired Pressure Injuries. https://www.stryker.com/content/dam/stryker/acute-care/campaigns/the-science-behind-support-surfaces/bon-secours-mercy-hospital-pressure-injuries.pdf. Retrieved May 17, 2024.

If you’d like to see how this works out for yourself based on your annual income, take a look at our mortgage affordability calculator below:

This is based on 6 times your household income, a salary multiple you will struggle to get without a broker. Six-times salary mortgages are usually only available under very specific circumstances.

In these circumstances, it’s best to consult with a broker who can indicate which lenders can offer this and whether you’d meet the lender’s affordability criteria.

ProCuity’s frame and support surfaces work together to support early mobility while helping to ease physical strain for the care team.

ProCuity ZMX and the Isolibrium PE support surface work together to support early mobility while helping to ease physical strain for the care team.

*Facility must meet eligibility requirements as outlined in the rental reduction contract. The guarantee is subject to the terms and conditions set forth in the Rental Reduction guarantee contract.

Isolibrium PE is a powered hospital mattress designed to assist in the prevention and treatment of all pressure injuries by providing powered support for turning patients, pressure redistribution, lateral rotation and more.

Reviewer: Jon Nixon

1. Preventing Pressure Injuries Improves Outcomes, Relieves Staff. https://www.encompassgroup.com/blog/preventing-pressure-injuries-improves-outcomes-relieves-staff. Encompass Group. September 20, 2021. March 01, 2021

Some lenders may also be willing to offer 5 times or possibly even 6 times your annual salary. However, the circumstances in which this would be likely are if you already have a large deposit and/or the house you’re looking to purchase is valued at £100,000 or less.

All of our content is written or verified by qualified advisors from the front line. Our guiding purpose is to ensure borrowers can make the best possible decisions by offering helpful and objective information and guidance on all things mortgages. Please send us a quick email at [email protected] if you spot anything you think needs checking or could be better.

**Facility must meet eligibility requirements as outlined in the HAPI Reduction contract. Must include advanced clinical hours. The guarantee is subject to the terms and conditions set forth in the HAPI guarantee contract

Repayments on a £60,000 mortgage vary depending on your mortgage type and personal circumstances. Your mortgage repayments will be determined by the length of your term, interest rate, and the type of mortgage you get.

At the time of writing (October 2024), the average monthly repayments on a £60,000 mortgage are £351. This is based on current interest rates being around 5%, a typical mortgage term of 25 years, and opting for a capital repayment mortgage. Based on this, you would repay £105,226 by the end of your mortgage term.

Use our one-of-a-kind mortgage comparison tool to compare live rates from 90+ lenders and find out the cheapest monthly repayments available to you.

In this article, we’ll look at the monthly repayments you can expect for a £60,000 mortgage, annual income, and the deposit amount you’ll need to apply for this mortgage. As well as how using a mortgage broker can help you obtain the lending you need at the most competitive interest rates.

This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. To borrow more than this, you will need to use a mortgage broker to access specialist lenders.

Author: Pete Mugleston

HeelGel is designed to buckle when heel pressure is applied and move that pressure to the calf, helping to reduce the potential of a pressure injury.

Try Our New Mortgage Comparison Tool - Compare Mortgage Products & Personalise The Results Try Our New Mortgage Comparison Tool, Get Started

Getting in touch via our online form or by calling 0808 189 2301 will see you swiftly matched to the right broker for your needs.

Through our Flex Financial business we can help you acquire our full portfolio of products and offer numerous payment structures that can be customized to meet your budgetary needs.

Online Mortgage Advisor and OMA are trading names of Find A Mortgage Online Ltd  who is Appointed Representative of TMG Direct Limited, which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 786245. Find A Mortgage Online Ltd  is registered in England under number 08662127. OMA is a registered trade mark of Find A Mortgage Online Ltd (08662127) (TM Reg No UK00003421542).

For interest-only mortgages, the repayment remains as is regardless of the term. So, for example, the repayment shown for 6% – £300 per month – would be the same if you opted for a 15-year- or 30-year term as the capital owed doesn’t reduce and is paid off in full at the end using a separate repayment vehicle.

This means you’re likely to meet the deposit requirements at most lenders, but since many reserve their best rates for those with higher deposits, speaking to a broker is recommended.

With the Bank of England base rate currently at 5% (October 2024) and the average mortgage rate between 5% and 6%, the repayment figures for these columns in the table would be the most realistic at present. However, this can change once the base rate reduces in the future and mortgage lenders follow suit.

With simplified workflows and improved communication—hospitals can create richer, more human connections between care teams, patients and their loved ones for safer medical care and improved clinical outcomes.

Use our one-of-a-kind mortgage comparison tool to compare live rates from 90+ lenders and find out the cheapest monthly repayments available to you.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

We can help! We know everyone's circumstances are different, that's why we work with expert brokers who specialise in finding the best deals. Ask us a question and we'll get the best expert to help.

Discover how a medical center achieved a 91.7% decrease in hospital acquired pressure injuries using state-of-the-art ICU bed technology – and saved an estimated $660,000 to $5,006,100.2***

This table outlines various monthly payments for a £60,000 mortgage based on interest rates between 3% and 6% over term lengths of 10 to 30 years.

We are registered with the Information Commissioner’s Office, under number registration No. ZA078235 and are authorised and regulated by the Financial Conduct Authority under Firm Reference Number 1011535.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. The overall cost for comparison is 4.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

This is based on 5 times your household income, a salary multiple you might struggle to qualify for without the help of a broker. This income multiple is not widely available to customers who are applying directly with a lender.

Whether it’s reducing the strain of transport or easing the burden of remembering to perform workflow tasks that support fall prevention protocols, ProCuity is loaded with features that enhance efficiency and safety for patients and staff.

Preventing pressure injuries for your most critical patients is one of your top priorities. It’s ours, too. That’s why we designed ProCuity ZMX to integrate with our premium support surface, Isolibrium PE. Our safest, most innovative and versatile hospital bed system helps to reduce pressure injuries and simplify nurse workflows to enable safer care and better outcomes in the ICU.

Steve, the financial advisor, contacted me within the hour and was very friendly, knowledgeable and professional. He seemed to relish my non standard requirement, diligently kept me updated during the day and we struck up a great relationship. Very impressed.

As most house prices are above £100,000 in the UK, you’ll likely have a large deposit of 25% or above if you have a £60,000 mortgage on a property. A higher deposit allows you to qualify for more competitive interest rates, as lenders often reserve their best rates for mortgages with the lowest loan-to-value ratio. This will result in smaller monthly repayments compared to a low deposit.

This study was performed to monitor the occurrence of pressure injuries in patients receiving treatment in the adult cardiovascular ICU (CVICU) and adult intensive care unit (ICU).

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us as well as any of our own are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Easy and intuitive to use, Zoom Motorized Drive allows you to move patients safely and with less staff, while helping to reduce caregiver back strain.

The team were fantastic and really knowledgeable and supportive. They answered all questions promptly and came back to me with regular updates. I have already recommended them and will use them again.

This calculator will tell you what your loan-to-value (LTV) ratio is, based on the property's value, your deposit/equity and the amount you're borrowing.

An experienced broker can offer concrete calculations alongside guidance on what mortgage rates and terms are best for your circumstances.

However, the longer terms also mean you’ll pay more interest overall. The best way to approach this is to work out how much you can comfortably pay each month and fit the term to suit your budget.

***This case study describes the findings of a quality improvement initiative that incorporated ProCuity ZMX and Isolibrium PE with other evidence based HAPI prevention interventions. The hospital's results reflect the policies, protocols, technology and training implemented by the hospital and the results are not necessarily representative of what another hospital may experience. Read the full story at https://www.stryker.com/content/dam/stryker/acute-care/campaigns/the-science-behind-support-surfaces/bon-secours-mercy-hospital-pressure-injuries.pdf.

Featuring head of bed accessibility for intubation, a large 8-inch touchscreen for easier workflow, Zoom Motorized Drive, which allows caregivers to move critical patients with ease, and ProCuity ZMX's seamless integration with our most advanced mattress to date, Isolibrium, to help prevent pressure injuries. These features help make ProCuity ZMX a true ICU bed.

The ones we work with have specific knowledge of mortgages of all sizes. They’ll be able to ascertain whether £60,000 is the mortgage size you need, advise on the ideal repayment amount and then share which lender is likely to offer a loan that matches that figure.

The longer the term, the lower your monthly repayments will be. Traditionally, mortgage terms are taken over 25 years but nowadays (depending on the applicant’s age and the strength of their application) loan terms can stretch as far as 40 years.

A broker will consider these and match you with the right lender. They also get access to exclusive deals and can negotiate with lenders on your behalf, saving you both time and money.

This means that most mortgage providers will consider your deposit amount to be more than satisfactory, but speaking to a broker is still recommended to ensure you get the best deal.