5 year fixed

cam5

hi, on a 5 year fixed for 150,000 what would i owe at the end of 5 years is there a caculator or would i need to speak to the lenderthanks

static999

cam5 wrote: »

hi, on a 5 year fixed for 150,000 what would i owe at the end of 5 years is there a caculator or would i need to speak to the lenderthanks

It all depends on length of loan, interest rate & if it's interest only or interest + principal. Found this on Google.

http://www.mortgages-loans-uk.co.uk/information/mortgage-amortisation-calculator.htm
http://www.therichestmaninatherstone.co.uk/wealth/index.php?disp=mortgagecalc

Gorgeous_George

cam5 wrote: »

hi, on a 5 year fixed for 150,000 what would i owe at the end of 5 years is there a caculator or would i need to speak to the lenderthanks

Tell me the interest rate (e.g., 5.9%) and the term (e.g., 25 years) and I'll let you know.

GG

cam5

ok i/r 5.89 term 25 years, also interest is calculated annualy on a 5 year fixed what are the pros and cons thanks

Gorgeous_George

I make it that you will owe £134,684 after 5 years but the annual interest calculation could make my sums inaccurate.

GG

allan673

i get it that you will owe £135,270 after 5 years ? monthly payments of £956.39

£150,000 mortgage @ 5.89% - 25 yr mortgage.

(ARE YOU RE-MORTGAGING? THE 5.89% DOESNT LOOK VERY COMPETITIVE, BETTER DEALS AVAILABLE TO SAVE YOU MONEY - E.G FIRST DIRECTS 5.29% 5 YEAR FIX MONTHLY PAYMENTS WOULD BE £902.00 PER MONTH, SAVING YOU £54.00 PER MONTH AND £3240.00 OVER 5 YEARS, A LOT OF MONEY SAVED)

cam5

yes im remorgaging to a b2l trouble is im self employed and cant prove my income so it needs to be done on a self cert, which limits me on the best rates i, i have just recieved a offer from bristol and west house was valued at 235.000 need a morgage of 149,800 its a 5 year fix at 5.89 repayment, will be 966.34 as interest is calculated annually guess if it was daily then the repayment would be slightly lower but any overpayments made and the interest will be calculated imediatley as long as its no more then 10% of the balance and is a minimum of 2000 i plan to keep this house for the long term thats why im going with the repayment, what do people think of this offer, is there a better way around this. thanks for the replys