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Offset mortgage calculation
330d
Posts: 637 Forumite
I'm doing a few calculations for an offset mortgage.
Mortgage - £200k
Term - 23 years
Mortgage - £200k
Term - 23 years
Mortgage interest rate - 3.04%
I'm using the offset calculators on the YBS, Barclays and Scottish Widows website.
Without having any savings to offset, all three say my monthly payment will be £1007 a month.
Now with a £150k saving to offset, Scottish Widows and Barclays say my monthly payment will drop to £628.
But YBS say my monthly payment will drop to £742.
I'm struggling to understand why the YBS figure is different. Any ideas?
I'm using the offset calculators on the YBS, Barclays and Scottish Widows website.
Without having any savings to offset, all three say my monthly payment will be £1007 a month.
Now with a £150k saving to offset, Scottish Widows and Barclays say my monthly payment will drop to £628.
But YBS say my monthly payment will drop to £742.
I'm struggling to understand why the YBS figure is different. Any ideas?
0
Comments
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Are you sure the mortgage interest rates with each provider is the same?
Are you sure the offset interest rates with each provider is the same?
Any other features that may create a difference between them?"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
Yes same
On all 3 calculators you have to input the interest rate which I have done at 3.04%0 -
Anyone able to help me with this?
Thank you0
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