Working out mortgage repayments across set mortgage period yourself?

wookie6

Hi,

I know there are countless mortgage comparison sites like https://www.moneysavingexpert.com/mortgages/best-buys/, however I'm interested in understanding the formula I need to use to calculate what the repayments on a mortgage would be across a defined mortgage period (2,3,5 years) at a given fixed interest rate/starting tracker rate, whereby I can choose to include/exclude set-up fees?

Can anyone help with this?

Thanks in advance! 

Caz3121

have you tried this calculator? https://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator/

wookie6

Thanks, this looks really useful and should give me the info I'm after. Not sure how I hadn't come across that before!

TrickyDicky101

wookie6 said:

Hi,

I know there are countless mortgage comparison sites like https://www.moneysavingexpert.com/mortgages/best-buys/, however I'm interested in understanding the formula I need to use to calculate what the repayments on a mortgage would be across a defined mortgage period (2,3,5 years) at a given fixed interest rate/starting tracker rate, whereby I can choose to include/exclude set-up fees?

Can anyone help with this?

Thanks in advance! 

Search up Annuity Formula in your favourite search engine if you want to see the mathematical formula behind the calculation.