What should my monthly fee be?

Walaboobah

We took out a lifetime tracker at 0.5% above the base rate 75% LTV in August 2006 - borrowed £123750 from Woolwich.

As you all know the Woolwich recalculate annually so we are currently overpaying and the amount is £743 per month.

I'm hopeless at working these things out, so I was wondering what the actual figure we would pay at 1.5% as I want to know by how much we are overpaying.

Thanks in advance

koexelek

It depends what term your mortgage is over ?

i assume it's all on capital and interest as well ?
... as that will make a difference if it isn't

Walaboobah

Sorry, its over 25 years, so we have 22 years and 7 months left to pay and its a repayment mortgage

koexelek

sheltster wrote: »

Sorry, its over 25 years, so we have 22 years and 7 months left to pay and its a repayment mortgage

I can only do quotes on full years, but it comes out at £550.63 over 22 years, or £530.43 over 23 years...............so let's call it £540 :cool:

Gorgeous_George

I make it about £510 per month. It's an approximation because I've estimated 5% for 27 months.

You could search for locoblade's mortgage calculator if you want a better idea.

GG