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Does anyone know of a calculator tool for mortgage repayment?
GAILEY
Posts: 139 Forumite
Hi,
Could anyone please let me know if there is anywhere on this wonderful site or elsewhere a calculator tool to help me out with mortgage repayment??
I am on a fixed rate mortgage so know what the rate will be for at least 5 years - I might be able to repay early but of course there is the early repayment penalty (which to be fair my BS have set out clearly in table form). In reality, what I will probably do is overpay each month the maximum I can overpay (£500) without penalty, but I thought it would be useful to do some sums on what I would pay if I let it run it's course, what I'd pay if I repayed a set amount or all against what I'd pay if I simply drip overpayed each month.....and I'm rubbish at maths....the thought of all of those sums is making me shudder....is there a tool somewhere:rolleyes:
Could anyone please let me know if there is anywhere on this wonderful site or elsewhere a calculator tool to help me out with mortgage repayment??
I am on a fixed rate mortgage so know what the rate will be for at least 5 years - I might be able to repay early but of course there is the early repayment penalty (which to be fair my BS have set out clearly in table form). In reality, what I will probably do is overpay each month the maximum I can overpay (£500) without penalty, but I thought it would be useful to do some sums on what I would pay if I let it run it's course, what I'd pay if I repayed a set amount or all against what I'd pay if I simply drip overpayed each month.....and I'm rubbish at maths....the thought of all of those sums is making me shudder....is there a tool somewhere:rolleyes:
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Comments
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http://forums.moneysavingexpert.com/showthread.html?t=1157173&highlight=locoblade
This one by a poster here is one of the best I have seen.0
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