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Mortgage repayment calculation???
oogesmoosh
Posts: 1 Newbie
I have found many loan amortisation schedules on the internet and several spreadsheet examples, I have (attempted to) create my own spreadsheet however it is marginally different from the HSBC key facts illustration.
The loan prinicpal is £165,900 with an initial interest rate of 2.49%, repayment mortgage over 30 years, per my calculations the monthly payment is £654.64 however the key facts illustration shows £654.85.
I know the difference is only small but can anyone advise how my calculations may be differing to those used by HSBC?
Thanks in advance for any advise
The loan prinicpal is £165,900 with an initial interest rate of 2.49%, repayment mortgage over 30 years, per my calculations the monthly payment is £654.64 however the key facts illustration shows £654.85.
I know the difference is only small but can anyone advise how my calculations may be differing to those used by HSBC?
Thanks in advance for any advise
0
Comments
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Were there any fee's added to the loan?Jan 2010 - Overdraft £9,500 / Credit Cards £5,000 / Loan £9,500 / Mortgage £128,000
Jun 2010 - Overdraft £0 / Credit Card £0 / Loan £0 / Mortgage £125,250
Oct 2011 - Overdraft £7,000 :mad: / Mortgage £115,295
Dec 2014 - Overdrafts 15,000 / Credit Cards 16,000 / Loans 25,000 / Cars 18,000 / Mortgages 232,5000 -
Maybe the calculator and the key facts have the asumption of different payment days during the month. That would make a few pennies difference possibly?0
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