Is it possible to guage how much 'surplus' there will be..?

ferry

Basically we're in the process of remortgaging,which will take place at the end of June to avoid any redemption charges with my existing lender.
My last mortgage statement stated we owed £110K as at end of Dec 06.

We have asked for an advance of £115k from our new lender(to incorporate some home improvement funds)

Is it possible to calculate how much extra money we should be expecting(from 1st July) based on what will be outstanding to clear with our existing lender and our new advance as we'd like to start planning with this extra amount?
Rate currenty 5.25 if that helps...

Many thanks

T.

UK007BullDog

There are too many variables, like if interest is calculated daily, monthly or yearly. Why not call them and ask them? They should be able to tell you on the phone what the amount is now and what it might be in July.

ferry

Yes,you're right I should really speak to them direct.

Thanks
T.