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Ownership equity calculator?
proformance
Posts: 358 Forumite
Hi guys
We're taking out a mortgage on a property and wondered if there were any calculators/spreadsheet templates that anyone knows of where we can enter the mortgage particulars to reveal the percentage of the property's equity we would own after a given period (e.g. after our initial fixed term)?
Many thanks
Z
We're taking out a mortgage on a property and wondered if there were any calculators/spreadsheet templates that anyone knows of where we can enter the mortgage particulars to reveal the percentage of the property's equity we would own after a given period (e.g. after our initial fixed term)?
Many thanks
Z
0
Comments
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You own 100% of the property from day 1. You just owe a lot of money secured against it.
How much equity you may have in the future depends on what happens to house prices, as much as on how much of the mortgage you've paid off.
The MSE mortgage calc shows you how much you'll have paid off at what stage of the term.
https://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator/
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Duck Duck Go is great, but that's not what I was after. That just shows the remaining balance of a mortgage.
I want to know how much equity stake (%) we'd have in a property based on the repayment mortgage after x years..0 -
proformance said:Duck Duck Go is great, but that's not what I was after. That just shows the remaining balance of a mortgage.
I want to know how much equity stake (%) we'd have in a property based on the repayment mortgage after x years..As you say, the calculator shows you the remaining balance of the mortgage.No calculator can show you what the value of the property will be after x years. It may have increased in value, or decreased.But if you make your own estimate of the value after x years and deduct the remaining balance of the mortgage, that will be your equity.As for duckduckgo, well if you insist you could use another search engine (eg google if you must).
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use your calculator from school days...proformance said:Duck Duck Go is great, but that's not what I was after. That just shows the remaining balance of a mortgage.
I want to know how much equity stake (%) we'd have in a property based on the repayment mortgage after x years..
estimated market value from whatever house price website source you think you believe - outstanding mortgage = "equity"
equity/estimated market value = Equity % owned0
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