Remortgage Value at end of Fixed rate.

biting_the_bullet

Hello all.

I know its a bit previous, but in April of this year we signed up with Nationwide for a 10 year fix at 5.18%. Mortgage value of £177500:00. Repayments of around £1050 per month.

Just wondered what figure would be left to pay off the total mortgage at the end of the 10 year fix? Realise its nearly all interest payments for the first few years, but am unsure of the figure left after 10 years.

Thanks in advance.

chelseablue

I worked it out to be approx £132,000 you would still owe

Hope that helps!

biting_the_bullet

chelseablue wrote: »

I worked it out to be approx £132,000 you would still owe

Hope that helps!

:eek: :eek: Despite paying off around 126K:eek: :eek:

Thanks for that.

chelseablue

biting_the_bullet wrote: »

:eek: :eek: Despite paying off around 126K:eek: :eek:

Thanks for that.

Scary isnt it?!

Over 25 years you would pay approx £139,000 in interest.

So in total you would pay back £316,500

Thats using an interest rate of 5.18% over the full 25 years which isnt likely to happen!

Rick62

If you received a full Illustration for the mortgage this usually also includes a schedule of payments and balances remaining.