Overpayment calculator - here

ajk_2

hi snowmen,

i have used www.shiredirect.com/mortgages/mortgage-calculators.html
which allows months as well as years.

HTH

stevo2434

It really is amazing how much you can save. I'm going to get in on this game

susiewarren

Wow, brilliant calculator - thanks so much for the link!

SarahJay55

1trainer1 wrote: »

the mortgage calculator is good,

just wondering if there are other people on fixed rate mortgages who are trying to calculate whether switching over to tracker mortgages or sticking to fixed rates.

there's a calculator right here on MSE

http://www.moneysavingexpert.com/mortgages/fixed-discount-mortgage-guide#calc

looks like I need to find a rate of 0.5% to make it worthwhile for me!

bixieupnorth

we're 9 months into 10 yr fix at 5.29%, currently overpaying £354pm, theres max of 5%pa overpayment and 6% fee if we exit before 10yrs is up, is there a detailed calculator that will let me see max we can overpay without incurring the exit fee. really want to be mortgage free as soon as 10 yrs gone

i hope you understand what i mean, for instance currently we pay £1000, ie normal pm is £646, but 5% of next years figure will be less than this years and so on, so eventually if we carry on paying £1000 we will be paying off more than the allowed 5% pa. i guess there could be a fee for exceeding this, which we want to avoid of course.

so we're hoping that we'll have a couple of thou left at june 30 2018 and can write a cheque for that

cheers

BOBS

We have used the calculators on here and between overpayment and savings hope to clear mortgage in 4 years (have 12 years left to run) --- couldnt believe the difference overpayments and lump sum make!

vanito

Thanks, very usefull

jezebel

Thanks for all the information, I'm just about to start out on a 25 year mortgage but this has made me realise that once I've done the expensive things in teh first few months (like buy furniture, pay solicitor etc) I can then overpay and cut a massive 9 or 10 years off my mortgage

pebblespop

sorry foudn what i was looking for!!

ajmoney

Unfortunately I am not in a position to overpay to the extent that it makes much of a difference (according to the overpayment calculators), is there a rough percentage of your mortgage that is good to overpay by anyway?