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How to estimate mortgage free date
ElusiveLucy
Posts: 686 Forumite
Can someone tell me how you estimate your MF date if you are on a tracker mortgage? I have used a spreadsheet I found on here a while ago to set myself rough targets, but it can vary a lot if the interest rate changes.
I would like to overpay £500 a month on my mortgage for as long as it takes/I am able to, but without having a crystal ball to know what interest rates will be doing and what my basic monthly repayment would be for different interest rates I am finding it hard to get a realistic picture.
Any hints from others who want to be MF?
Thanks.
I would like to overpay £500 a month on my mortgage for as long as it takes/I am able to, but without having a crystal ball to know what interest rates will be doing and what my basic monthly repayment would be for different interest rates I am finding it hard to get a realistic picture.
Any hints from others who want to be MF?
Thanks.
What goes around comes around.....I hope!
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