mortgage calculators

halloweenqueen_2

Hi
Before I lock myself into the 10 year woolwich deal - I have a 13 yr mortgage, which is an offset. I would save over £4000 if I go for the 10 year deal, which is still only £400 a year and I'm tied to it with penalties if I repay it early, which I may want to do. I do have some savings in the offset which are saving me at the moment, £20 a month in interest, this hasn't been taken into account when I've been told I will save £44 a month for switching. The fees I have to pay are £595, which divided by £44 is over 13 months before I start saving and if I take the £20+ a month into account will be over 2 years before I make any savings.
Are there any good online mortgage calculators that will show me the difference if I pay extra savings or extra on my mortgage on the offset - which i can do without penalty and the 10 year deal.
Basically I aim to be mortgage free on this property within 10 years at least.
Thanks!

summerday

Hi, try this one:

http://mortgages.charcolonline.co.uk/mortgages/calculator/flexcalculatortext.aspx

you may have to copy and paste the link.

sarah xx

halloweenqueen_2

thanks for this, it looks like if I save the £64 pounds a month and over pay, 100 a month I'm no worse off in the long run. I should be able to overpay 1200 a year and that will save about 2.5 years as well. So if I can do that I should be as well off, if my circumstances allow it I may be able to pay off more and realise my ambition id like to be mortgage free by the time i'm 40 so i will be saving the rent from the property I rent out which I have no mortgage on to over pay my own home.
Grateful for your reply - thankyou

las77

try

http://new.egg.com/visitor/0,2388,3_54988--View_1028,00.html

it is simple to use and shows you in graph form what the overpayments will save you in terms of years in addition to calculating the actual interest saved. Just in case you can't get to the web site from the above link (I'm not a computer geek !) it the egg web page.