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Can anyone work this out? out of interest

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
2 replies 485 views
katie4katie4 Forumite
397 Posts
Part of the Furniture 100 Posts I've been Money Tipped!
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edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
Hi
I am just wondering after our five year fix is up how much the balance of our mortgage will be, would anybody be able to calculate this for us please?


we would ideally like to move home around the time the fix is up.


5yr fix started June 2018 at 2.33%
monthly payment £346.76
capital balance £54.588.59
repayment basis capital and interest


many thanks in advance

Replies

  • is that capital balance as at June 18 when the fix started, or current balance at October?
    If its when the fix started, im guessing there was just under 16 years left to run on the mortgage from June? at a very quick calculation, I would estimate by June 2023 the balance would be around £39660
    Mortgage = [STRIKE]£113,495 (May 2009)[/STRIKE] £67462.74 Jun 2019
  • katie4katie4 Forumite
    397 Posts
    Part of the Furniture 100 Posts I've been Money Tipped!
    ✭✭
    is that capital balance as at June 18 when the fix started, or current balance at October?
    If its when the fix started, im guessing there was just under 16 years left to run on the mortgage from June? at a very quick calculation, I would estimate by June 2023 the balance would be around £39660

    Hi yes it is current balance as of October thanks yes that's right 16 years remaining now as we kept payments at higher rate to reduce mortgage term as unable to overpay


    Many thanks for this very helpful!

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