We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Overpayment calculator Part I/O part repayment
nyck
Posts: 161 Forumite
Is the a mortgage calc for overpayments on a Part I/O part repayment
Im thing of cashing in my endowment which has 10 years left and i worked out if i over pay ,i can clear everything in 6years 9 months
But im getting confused how much i would clear if i went the full 10 years but keeping the endowment but over paying each month
I know it wont happen but assume my intereat rate will stay 1.99% for 10 years
Interest only = £50k ( £82.91 a month)
repayment = £30k ( £278.17 a month )
Ill pay £560 a month so over pay by £198
my head hurts
nick
Im thing of cashing in my endowment which has 10 years left and i worked out if i over pay ,i can clear everything in 6years 9 months
But im getting confused how much i would clear if i went the full 10 years but keeping the endowment but over paying each month
I know it wont happen but assume my intereat rate will stay 1.99% for 10 years
Interest only = £50k ( £82.91 a month)
repayment = £30k ( £278.17 a month )
Ill pay £560 a month so over pay by £198
my head hurts
nick
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards