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Does this kind of mortgage calculator exist?
frasersmum123
Posts: 862 Forumite
I am trying to work this out as part of my divorce settlement.
My DH will pay the mortgage on our house until our youngest child is 18, then I will either pay off the balance or take out a mortgage for the remaining amount.
So I need to see what I will owe in 11 years time. Is there an online calculator that will do that? All I can find are either overpayment calculators or how much I can borrow.
My DH will pay the mortgage on our house until our youngest child is 18, then I will either pay off the balance or take out a mortgage for the remaining amount.
So I need to see what I will owe in 11 years time. Is there an online calculator that will do that? All I can find are either overpayment calculators or how much I can borrow.
Moving on up 
SPC #382 ~ £40 banked
12k in 2016 #15. £541.91/£3000
SPC #382 ~ £40 banked12k in 2016 #15. £541.91/£3000
0
Comments
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It is described as an amortisation calculator. Not the best example but here's one. http://www.myamortizationchart.com/0
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http://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator
Enter your details, hit calculate and scroll down. Each years balance is displayed there and should give you some idea.0 -
Keep in mind that interest rates can and likely will change during that 11 year period so unless your deal is fixed for 10 years working out how much you'll owe that far in the future is more of an educated guess.I am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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