Help MSE make mortgage calculator even MORE ULTIMATE

thebobble

When I move I am planning to transfer my current mortgage (as I'm on a great rate) and borrow extra from the same provider at a not-so-great rate. Would like to be able to calculate the total interest rate, repayments etc at the same time rather than seperately and adding up.

djlester_2

thebobble wrote: »

When I move I am planning to transfer my current mortgage (as I'm on a great rate) and borrow extra from the same provider at a not-so-great rate. Would like to be able to calculate the total interest rate, repayments etc at the same time rather than seperately and adding up.

I was just going to say the same as TheBobble - I have 2 mortgages - great rate, not so great rate, same provider, and I offset the higher rate for obvious reasons. Seeing the numbers split and together would be fantastic.

Being a developer though - I am guessing there needs to be a limit on the number of different mortgages that can be put together - is there a limit on the number of splits you are likely to get froma bank? Just curious!

MrDT

it would be great if you could extend the options for one-off overpayments further into the future.

for example i would like to calculate the following:

current mortgage debt = £75,000
mortgage term = 25 years
annual interest rate = 5%
mortgage type = repayment
overpayment amount = £20,000 one-off March 2015

this would allow me to calculate the approximate duration of a 5 year fixed rate mortgage with a lump of savings paid down at the end of the fixed term. i understand that there's no guarantee the duration would be accurate due to there being no guarantees what the interest rate would be in five years time, but it would give a decent indication for comparison when considering an overpayment after five years versus maximising the deposit at the start of the mortgage (forsaking an emergency fund etc).

foreversummer

Could you also provide what I believe is called amortization. That's where you can see how much you owe or will owe in the future at any particular point in time. It would also show on a repayment mortgage how much capital you are repaying and how much interest.

Foreversummer

jonny2510

janineo wrote: »

I'd like to be able to add to the different fees (reservation, legal, valuation, etc.) into the calculator to compare deals when switching. With the option to add them into the mortgage or not as required.

I'd certainly second that.

To expand, it would be nice to be able to compare two mortgage deals, entering the rate, fee, valuation costs, fix-term, lockins etc for each.

(For fixed rate mortgages) the caclulator could display at the end of the mortgage fix-term, the total cost for each of the two mortgages, and the equity paid off by each.

Ashbrown

I'd like to see the option of having a hybrid mortgage... this is because I currently have a part repayment part interest only mortgage.

I'm making overpayments on the interest only portion.

I can use the calculator to do separate calculations but it'd be neater if we had the option to calculate both at once.