Overpayment calculator - here

Mirandolina

Hi Moomi, double check this with someone else but my immediate thought is that you would be best to make the overpayment completely towards the fixed rate as you're paying a higher interest rate on this one. The more you can reduce the capital here, the more you will save in interest on that capital. Not too sure how you would do a calculator for both, sorry.
Like you, I find this a really rewarding and motivating thread. Thanks everyone!

Kwaker_Knacker

Anyone having trouble with the MSE calculator?? I put some figures in, but when I click on calculate, it goes back to default and doesn't give me a forecast.

Used it a while ago and it was fine so I'm doing nothing different this time.

K_K

katsu

Kwaker_Knacker wrote: »

Anyone having trouble with the MSE calculator?? I put some figures in, but when I click on calculate, it goes back to default and doesn't give me a forecast.

Used it a while ago and it was fine so I'm doing nothing different this time.

K_K

Overpayment calculator seems broken to me too

Habibiboo

Can't get it to work either, nor a couple of the others from links on first page - starting to think it might be me!

lighthousescotland

OP Calculator not working for me either. Hopefully it will be better soon.:( Thank you to everyone involved in fixing it :T.

johnswife

its working now.

R*Q*

I thought I had shortened my mortgage terms from 14 to 10 years, that was two years ago when I took out a 2 year fixed at 3.99%. I had paid the fee and also made a lump sum payment.
My two years fixed is now coming to an end. When I went to check out the deals with my building society. It was then I'd found out they hadn't shortten the term and the last two years I have been paying at the original term.
They now offer to recaluclate and amend the term to,now 8 years.
it means my monthly payments will now go up by £80/month,but my circumstance now means I cannot really afford anymore.Am I better off rejecting that "offer" and shorten the term in the future instead? My next remortgage deal is 2 years fixed at 3.89%, a slightly lower than previous.Would it be cheaper to shorten the term when interest rate is lower? or higher?
Any advice will be appreciated.

shop-to-drop

R*Q* wrote: »

I thought I had shortened my mortgage terms from 14 to 10 years, that was two years ago when I took out a 2 year fixed at 3.99%. I had paid the fee and also made a lump sum payment.
My two years fixed is now coming to an end. When I went to check out the deals with my building society. It was then I'd found out they hadn't shortten the term and the last two years I have been paying at the original term.
They now offer to recaluclate and amend the term to,now 8 years.
it means my monthly payments will now go up by £80/month,but my circumstance now means I cannot really afford anymore.Am I better off rejecting that "offer" and shorten the term in the future instead? My next remortgage deal is 2 years fixed at 3.89%, a slightly lower than previous.Would it be cheaper to shorten the term when interest rate is lower? or higher?
Any advice will be appreciated.

Reject the offer if you can't afford to do it you are better sticking to what you know you can afford even if it means you will be paying longer. Try to get a deal where you can make occasional overpayments as and when you can afford to.

R*Q*

shop-to-drop wrote: »

Reject the offer if you can't afford to do it you are better sticking to what you know you can afford even if it means you will be paying longer. Try to get a deal where you can make occasional overpayments as and when you can afford to.

Thank you for that:)
Very much appreciated. You have reassured me what I was thinking. Am just annoyed they made the error in the first place. I will go back to them and let them they've made yet another error: they refunded my fee the other day and today I received a letter saying the terms' been shortened!

frugalfrog

Hi not sure whether this has already been asked (I scanned through the last 18 pages!) but my mortgage is on a fixed rate for 5 years where I can only pay 10% per year overpayment. Is there a calculator our there that can calculate the savings by putting a % rather than a fixed amount?