capital paid off after 5yrs ?

deejaybee

Are there any calculators that I could work this out with please ?


amount borrowed: 137,999

Term : 17 years

I/R : 3.99 ( 5 yr fixed )

Want to know how much capital I will have cleared by the end of the initial 5 yr fixed rate period ?

Thanks

maninthestreet

After 5 years of a repayment mortgage, you would have paid off £6837 pounds

pinkteapot

I use this calculator:
http://www.theguardian.com/money/mortgage-calculator

According to that, after five years you'll owe £106,950, so will have paid off just over £30k.

Not sure where the figure of £6837 above came from? Sounds too low for almost a third of the way through the mortgage term.

YorkshireBoy

http://www.whatsthecost.com/mortgage.aspx


And on this very site...


http://www.moneysavingexpert.com/mortgages/compare-fixed-rate-mortgages#result


Both the above say around £30,800

jamesperrett

Do a forum search for locoblade's Excel spreadsheet calculator - I find it very useful.

Paully232000

https://forums.moneysavingexpert.com/discussion/1157173

try this, and comes up with £30,833 paid off

deejaybee

thanks all, appreciated, should be on for a better LTV ratio after the 5yrs then..

my broker will contact me before the 5yrs to chat about options going forward.

dimbo61

Using " whatsthecost" you should have a monthly repayment mortgage payment of £932.71 and in five years you will still owe £106,590.27
If you can afford to OVERPAY on top!