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IO Mortgage Overpayments

Blakey1982
Blakey1982 Posts: 430 Forumite
in Mortgage-free wannabe
At long last it appears we can make overpayments on our Interest Only mortgage from July 2011.....

£134k mortgage
currently Interest only is 7.3% (crazy)
It will revert to around 3.5% - 4% when that term ends.
Payment currently £815
New Payment £420 odd


I was wondering if there was an Interest Only Overpayment Calculator??

i've searched but they're all based on Repayment

Thanks

Comments

  • flatmate
    flatmate Posts: 26 Forumite
    Give this a go spreadsheet.locostfireblade.co.uk I'm new on here but have been playing about with the spreadsheet this morning and it's very detailed. It has an interest only option too.
    Mortgage Balance @ 30/06/10 = £104,975.07
    Overpaid since 13/12/10 = £218.96
    Overtime since 13/12/10 = £257.11 pre tax
    Ebay, pennies and others since 13/12/10 = £50
This discussion has been closed.
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