Can anyone work this out? out of interest

katie4

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

engineer_amy

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

katie4

engineer_amy wrote: »

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!