Overpayment calculator - here

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Comments

  • John_LG
    John_LG Posts: 132 Forumite
    Look back at post 18 for the fool.co.uk link I gave, which I think is great.
    There are a number of calculators to choose from:

    http://www.fool.co.uk/mortgages/CalculatorRepay.aspx

    This one, will give you a repayment and interest only value...
    :money: [STRIKE]Mortgage: July01=62700; Apr07=~15000[/STRIKE]
    Mortgage free date: 2037... we've moved house to somewhere we can't afford...
    :wave:If someone helps, say thanks, doesn't take much effort really
  • millsmum
    millsmum Posts: 216 Forumite
    First Post First Anniversary Combo Breaker
    hi can anyone point out a calculator which allows me to set monthly overpayments and annual ones. the egg only alows 2 ?
  • Miss_Penny_Pincher_2
    Miss_Penny_Pincher_2 Posts: 660 Forumite
    First Anniversary Combo Breaker
    Hi millsmum,

    This Excel spreadsheet (also available for Lotus) allows you to input annual / monthly overpayments for each year of the mortgage (has to be broken down into a monthly sum though):

    http://www.mortgagesexposed.com/Spreadsheets/Flexible%20Payment%20Mortgage.xls

    Ali007 has created a spreadsheet which allows specific overpayment amounts to be input on it to the exact day that you want to make the payment - if you ask her very nicely she may email it to you.
  • countrydancer
    countrydancer Posts: 5 Forumite
    Its hard for people to see what they can save until you use this calculator. I always round of the figures at the end of each month..ie if mortgage balance is 8,928.60 i transfer the 28.60 from my current account. This is easy to do if you bank on line
  • steviehudds
    steviehudds Posts: 23 Forumite
    Countrydancer

    I do it different way.ICheck my current account balance the day before payday.what ever i have left i transfer to my Mortgage account on line

    Than your new wage goes in and you start all over again.

    Stevie
  • gallygirl
    gallygirl Posts: 17,228 Forumite
    Name Dropper First Anniversary First Post Mortgage-free Glee!
    countrydancer wrote:
    Its hard for people to see what they can save until you use this calculator. I always round of the figures at the end of each month..ie if mortgage balance is 8,928.60 i transfer the 28.60 from my current account. This is easy to do if you bank on line


    OOOOHHHH I feel a new system is calling me......

    Stevie - great in theory, shame about the red figures at the mo.... that mortgage pig is SO greedy:confused:
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • chekhov
    chekhov Posts: 17 Forumite
    Sorry but I'm a complete numpty when it come to "number crunching". However I thought it might be a good idea to pay more than is actually required for my monthly mortgage payment and therefore pay it off quicker. I am now led to understand that I might actually be penalized for this effort to be more thrifty. Can anyone explain to me how this works? My mortgage is with Nationwide, if that helps!
  • save-a-lot
    save-a-lot Posts: 2,809 Forumite
    Combo Breaker First Post
    Hi

    I have a link to a series of calculators that could be useful.

    http://www.quote-engine.com/financial-calculators.html

    on the above page there are 3 useful mortgage calculators.

    The first one is entitled "Mortgage Overpayment Calculator", you tell the calculator your mortgage details and it asks you in how many years do you want to clear the mortgage in. It then works out the extra monthly payments you should be making to achieve that... calculator

    The second one is entitled "Mortgage Overpayment Calculator ** with Amortization **", this one allows you to enter your desired overpayments/lump sum etc and then creates a payment schedule... calculator

    The third one is entitled "Remortgage Calculator" and this one is good for weighing up the costs of remortgaging... calculator

    All pretty good tools and quite interesting
  • Chriswil
    Chriswil Posts: 276 Forumite
    save-a-lot wrote:
    Hi

    I have a link to a series of calculators that could be useful.

    http://www.quote-engine.com/financial-calculators.html

    on the above page there are 3 useful mortgage calculators.

    The first one is entitled "Mortgage Overpayment Calculator", you tell the calculator your mortgage details and it asks you in how many years do you want to clear the mortgage in. It then works out the extra monthly payments you should be making to achieve that.

    The second one is entitled "Mortgage Overpayment Calculator ** with Amortization **", this one allows you to enter your desired overpayments/lump sum etc and then creates a payment schedule.

    The third one is entitled "Remortgage Calculator" and this one is good for weighing up the costs of remortgaging.

    All pretty good tools and quite interesting

    Very useful, thankyou!
    Waddle you do eh?
  • poorbutgettingricher
    poorbutgettingricher Posts: 54 Forumite
    ive just strated a mortgage and will be saving for the next 3 years as i cant make overpayments in the fixed term, but will be a nice lump when i come to remortgage! saving £250 p/m, lump sum of £9000!
    Debt at highest (april 2005) £19000
    Current Debt (september 2006) £7600

    Mortgage Pig = £31.43 and we move in on Friday (6/10/06)

    :j £2 savings = £22 started 1/9/06
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