Overpayment calculator - here

cheekychappy777

do these calculators take into account the extra charges you may get off the bank if you go over the extra payments you are allowed to pay each year?

cheekychappy777

do these calculators take into account the extra charges you may get off the bank if you go over the extra payments you are allowed to pay each year?

cheekychappy777

do these calculators take into account the extra charges you may get off the bank if you go over the extra payments you are allowed to pay each year?

Antispam

Looking for a mortgage calculator that works out how much I owe and monthly payment when I pay of a one off lump sum

I gone through most of them in this thread but none seem to fit the bill

Healthier_Finances

cheekychappy777 wrote: »

do these calculators take into account the extra charges you may get off the bank if you go over the extra payments you are allowed to pay each year?

I would say no - they assume no penalty if they don't ask you for this information, you'll need to take these extras into account. But if you have big penalties for overpaying I'd look at changing as soon as any tie-in period is over.

Good luck.

getmore4less

Antispam wrote: »

Looking for a mortgage calculator that works out how much I owe and monthly payment when I pay of a one off lump sum

I gone through most of them in this thread but none seem to fit the bill

You can do it with any calculator that show you the monthly details

http://www.whatsthecost.com/mortgage.aspx

Just have more than one runing and transfer the data from one to the other.

If you learn the basics of how mortgages work you can do just about any calculation with that calculator with a few steps.

tiresmokindad

Thefunkygibbons wrote: »

There are several of these

Here is one



They demonstrate the benefit of overpaymenst in terms of interest saved and term cut off the mortgage

There are others, add them to this thread

EDIT: location changed

I think that is kind of fraud. They should not overpaying the interest. Specially if that kind of interest is very material.

Welshlassie

tiresmokindad wrote: »

I think that is kind of fraud. They should not overpaying the interest. Specially if that kind of interest is very material.

What are you talking about? How is that fraud? Banks allow overpayments and some of the calculators are provided by the banks so they are hardly going to condone fraud are they??

mrsvicx

Wow - could pay off the martgage seven years early for "just" an extra £100 a month!!

mr-mr_2

which calculator should i use if i am on a fixed rate for x years and then the rate changes?

thanks