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Help Needed for calculation
Lee-10
Posts: 56 Forumite
Good Evening,
Apologies, as im sure this has been asked before.
I am looking to change my overpayment to reducing the monthly payment (fixed rate), for a short while.
I have spoken to nationwide and the person i spoke to done a rough calculation to let me know how much it will reduce if I overpaid £500 per month.
Does anyone now the calculation/ formula to work out what it will reduce by per overpayment?
Mortgage - £225k
Monthly Payment - £1164.91
Fixed Term Remaining - 4 Yrs 6 month
Mortgage Remaining - 29 Yrs 6 month
Thank you for any help you can provide
Lee
Apologies, as im sure this has been asked before.
I am looking to change my overpayment to reducing the monthly payment (fixed rate), for a short while.
I have spoken to nationwide and the person i spoke to done a rough calculation to let me know how much it will reduce if I overpaid £500 per month.
Does anyone now the calculation/ formula to work out what it will reduce by per overpayment?
Mortgage - £225k
Monthly Payment - £1164.91
Fixed Term Remaining - 4 Yrs 6 month
Mortgage Remaining - 29 Yrs 6 month
Thank you for any help you can provide
Lee
MFW2021 #93 - £330/£2200
0
Comments
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Hi,maybe MSE can help, HERE.1
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