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Remortgage calculators
Peco141
Posts: 352 Forumite
Our two year fixed term ends in few months and we assume it's time to look at our options.
When using the mortgage providers online calculators do use the currently property value of £120k based on other houses selling in our street or the value at the date we purchased the house £115k?
Also..
To calculate the amount we'll need to borrow do we simply take the original value less the depost £20k = £95k less the 24 monthly repayments of £500?
Presumably not as this wouldn't take account the interest??
Sorry if I'm being a bit dumb here..
When using the mortgage providers online calculators do use the currently property value of £120k based on other houses selling in our street or the value at the date we purchased the house £115k?
Also..
To calculate the amount we'll need to borrow do we simply take the original value less the depost £20k = £95k less the 24 monthly repayments of £500?
Presumably not as this wouldn't take account the interest??
Sorry if I'm being a bit dumb here..
0
Comments
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They look at the outstanding balance and what the property is worth today !0
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Ok thanks for the feedback.0
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