whats your daily interest on your mortgage

kingstreet

lee111s wrote: »

£7.67 FTB on £105000 over 30 years. Only took 30 years to make sure I'm sound for the first few years as I want to save for a new bathroom etc for the house I'm buying. Will be over paying ASAP when I get a lodger in!

Are you sure that's the daily interest?

105,000 x 2.67% = £2,804 / 365 = £7.68.

Rate 2.67%?

TrickyDicky101

kingstreet wrote: »

annual mortgage interest divided by number of rooms in house, divided by 24 hours in a day, multiplied by 8 hours business use.

9,000 / 8 = 1,125 / 24 = £46.88 x 8 = £375 per year.

Very fair, I thought. I may not work a seven day week, but I can't move all the office furniture out of here at weekends.

On that basis, why do you adjust downwards by only allowing 8/24 of the interest? I would have thought it would be entirely reasonable to allow the full 24 - you would do if you had business premises on a mortgage.

kingstreet

I'm disgustingly honest and fairminded.

Technically, I only spend eight hours a day working in here, so that seems like a reasonable approach.

My wife does pile a couple of washing maidens behind me, next to the radiator, so it's not really 100% used for business...

Gary123456790

£7.68 / day

When our mortgage started, that figure was £33.40, but thats what happens when you get £207k at 5.89%

Gary.

TrickyDicky101

kingstreet wrote: »

My wife does pile a couple of washing maidens behind me, next to the radiator, so it's not really 100% used for business...

I was distracted by the thought of having a pair of naked maidens washing behind me, then I realised that wasn't quite what you meant!

Morgage_Confused

I was initially paying £34.70 (205k at something like 6.1%)

Currently £11.40 due to overpayments and interest rates.(155k at 2.68%):j

Southend1

£10.67 :eek:

becominganobsessivesaver

£11.58 forme

angelsmomma

18.66 for me( but that is 3 mortgages 1 resident and 2 buy to let)

missprice

£1.32

but there’s not much left on the mortgage around 13k ish:)