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How to calc. mort. repayments.
ipri
Posts: 649 Forumite
Hi...Is there a simple formula for calculating monthly repayments using mort. % / house price and period of repayments? thanks
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Comments
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no there is not ipri - not for capital and interest payments
many websites offer an online calculation toolI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I think there are a few more variables than that - don't some mortgages calculate interest daily so activity in and out of account will vary the amount? Ours - an offset type - does, so although we are whittling away at the amount owed every month the interest charge varies quite a lot.0
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What's the relationship between Bank rates set by B.O.E and mortgage rates?
BTW...the lenders must use some sort of formula...to know what to charge?0 -
What's the relationship between Bank rates set by B.O.E and mortgage rates?
Some rates are linked to the BOE rate - most aren'tI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Have you looked at the mortgage calculators on this site? You input the amount borrowed, interest rate, and duration.0
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