Approximating house purchase price from payment terms

edddd1

Odd question I know, but if you know the payment terms of a mortgage, say £250 x 300 months (25 years) and it was taken out in June 2002, would there be a fairly straightforward way to approximate the capital element of the mortgage and the interest?

I mean, £250 x 300 is £75000. You wouldn't be able to tell any capital put down as a deposit, but this information must tell something, if you can approximate the interest rates at the time?

Any help appreciated!

LilacPixie

I bought in march 2003 25 year mortage was 177 for 28k. I think that if i had paid each payment on time with no overpayments the total paid back was around 53k so almost double the amount borrowed. I would guess that the mortgage about in your senario be around 40k. That is just a guess though

DVardysShadow

http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml

£10,000 over 25 years at 8% is £78.06. So, £250/month is £10,000 * [£250 / £78.06] = £32,206.

Remix according to your assumptions.

Soot2006

Only if you can guess at deposit .... some people have only 10% ... others might have 60% or more... makes it impossible to know with so little information!

edddd1

Thanks everyone.