Mortgage PPI - Calculations Dont Add Up???

antdon

Does anyone know of a good online calculator that will do this?

dunstonh

why do you need a good online calculator? You have a computer in front of you which has a calculator. reward x 8% = answer

-SDW-

Derwent.....my mppi payment is £160 a month from 2003 till present ..FOS wrote to me saying HBOS has agreed to pay me back all payments plus 8% simple interest ..i've worked it out as follows...does it look right to you ..cheers in advance..

charge date interest total

£1900 2.2.2003 £1304.01 £3204.01
£1900 2.2.2004 £1152.01 £3052.01
£1900 2.2.2005 £999.59 £2899.59
£1900 2.2.2006 £847.59 £2747.59
£1900 2.2.2007 £695.59 £2595.59
£1900 2.2.2008 £543.59 £2443.59
£1900 2.2.2009 £391.18 £2291.18
£1900 2.2.2010 £239.18 £2139.18
£1900 2.2.2011 £87.18 £1987.18

total total total

£17000 £6259.92 £23359.92

Niggly_2

antdon wrote: »

Bloody hell!!

No wonder I couldnt work it out....

How the hell do they call this 'simple'

So, to try and work out the total for an 11 year ppi would take about..... well.....11 years

All you have to do is email me I have programmed an excel sheet to do this all you have to do is put the amount per month in and it calculates it all. Simples

By the way the £50 comes out as .£232.43 on my spread sheet.

Cheers
N

-SDW-

-SDW- wrote: »

Derwent.....my mppi payment is £160 a month from 2003 till present ..FOS wrote to me saying HBOS has agreed to pay me back all payments plus 8% simple interest ..i've worked it out as follows...does it look right to you ..cheers in advance..

charge date interest total

£1900 2.2.2003 £1304.01 £3204.01
£1900 2.2.2004 £1152.01 £3052.01
£1900 2.2.2005 £999.59 £2899.59
£1900 2.2.2006 £847.59 £2747.59
£1900 2.2.2007 £695.59 £2595.59
£1900 2.2.2008 £543.59 £2443.59
£1900 2.2.2009 £391.18 £2291.18
£1900 2.2.2010 £239.18 £2139.18
£1900 2.2.2011 £87.18 £1987.18

total total total

£17000 £6259.92 £23359.92

anyone know if this correct ?

antdon

Niggly wrote: »

All you have to do is email me I have programmed an excel sheet to do this all you have to do is put the amount per month in and it calculates it all. Simples

By the way the £50 comes out as .£232.43 on my spread sheet.

Cheers
N

l

Many thanks for the reply....
And many thanks for the offer
I will email now.....

Derwent

-SDW- wrote: »

anyone know if this correct ?

Hiya, yeah those figures are in the right ball park. Its difficult to put exact figures on it without knowing exact dates of payments and the exact date of refund, but your figures are a reasonable estimate.

antdon

dunstonh wrote: »

why do you need a good online calculator? You have a computer in front of you which has a calculator. reward x 8% = answer

If only it was that simple....

Please check out the calculation in the in the previous reply....

-SDW-

Thanks Derwent...just needed a ballpark figure so when bank do calculations i know roughly what they should be ..:beer: