How much of my mortgage payment is Interest V Capital?

mattbell

Hi how do I work out how much of my mortgage payment each month is reducing the capital and how much is just interest payment please?

Is there a calculator anywhere I can use?

My mortgage payment is £704 per month, there is approx 26 years left on my mortgage and the amount is around £165,000.

Thanks in advance,

Matt

samnorris2

Matt,
Try think link and then download the exel file. I've used this sheet to fully analyse all the mortgages I am reviewing at the moment. I find it pretty good

http://www.thismuchiknow.co.uk/?p=42


Also
here is a google doc which works quite well. I think you need to have a google account though. Plus it's in $usd but just disgard the currency symbol.

http://spreadsheets.google.com/ccc?key=rxl0SBM85VqAJJr5oDmRZBA&hl=en

Sam