Mortgage overpayment

Antispam

ignore for now...

getmore4less

Stick your numbers into a calculator I use this one.

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

Antispam

Thanks

I was looking fro a calculator that worked out how much you owe when you pay a one off lump sum, all calculators I have found are just for over payments

devonmaid77

The egg one does lump.sums. You'll find it in the mortgage free wannabe forum, in mortgage overpayment calculator, somewhere in the first couple of pages. Sorry u can't paste the link as I'm writing from my phone.

Antispam

I tried the egg one, thanks

http://new.egg.com/visitor/0,2388,3_54988--View_1028,00.html

when its says on rhs column

First lump sum and then year

I pay £324.99 a month, 17 years left, £54,655 owed @ 2.39% SVR

devonmaid77

Oh sorry I really don't know! Perhaps you should ask on the mortgage free wannabe site? There are lots of people who will know there.

getmore4less

Antispam wrote: »

Thanks

I was looking fro a calculator that worked out how much you owe when you pay a one off lump sum, all calculators I have found are just for over payments

Any calculator can do that you just reduce the amount borrowed.

If you want to do this in say 6 months you just run two calculators and transfer the numbers across.

egg seems to have done the job though

Antispam

Thanks the egg one I cant figure how it works it doesn't tell me what my debt is although thats easy to work out, or how much my payments will be when I pay a lump sum off

Antispam

I told my mortgage company I want to pay off a lump sum of 18k from a mortgage of £54,005 I have 202 months left. They told me following figures

I currently pay £324.99 with 18k off with 202 months left my mortgage would be £217.77, the interest rate is 2.39% or 0.199% a month

So if I pay 18k I saved £3,658.44

202months x £107.22 (difference between £324.99 and £217.77) =21658.44-£18,000=£3,658.44