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Is there a calculator to show length of term change
soupy600
Posts: 174 Forumite
Hi guys,
i've decided to go ahead with buying the house i have an offer agreed on but with the current climate i'm thinking of extending my term from 21 to 25/27years.
I will still be putting down the same deposit so LTV wont change and it will still be a 5 year fixed. But will extend my term to safe guard and lower my payment a bit for just incase. The plan is to bank the difference and then once everything settles and i hadn't need the extra cash over pay and then at the end of the 5 year i end up in the same position.
The interest i pay will then be more for a while as i'm not paying as much off so how do i work out how much that will be?
i've decided to go ahead with buying the house i have an offer agreed on but with the current climate i'm thinking of extending my term from 21 to 25/27years.
I will still be putting down the same deposit so LTV wont change and it will still be a 5 year fixed. But will extend my term to safe guard and lower my payment a bit for just incase. The plan is to bank the difference and then once everything settles and i hadn't need the extra cash over pay and then at the end of the 5 year i end up in the same position.
The interest i pay will then be more for a while as i'm not paying as much off so how do i work out how much that will be?
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Brilliant thank youThrugelmir said:1
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