Just a little help needed to work out how much I will have paid off my house please

Andy_Hamilton

I really want to work out how much I will have paid off my mortgage when my fixed rate deal ends next Jan.

My key facts are:
Start mortgage value: £81,540
1st payment: 659.05
16 payments of £449.24 (it's only 16 because it new build and the clock started ticking when I took out the mortgage not when the money was realeased)
Current 5.750% over 35 years.

I'm wanting to get the mortgage under 90% to get a slightly better deal than my current 97% with HL fees etc. I am trying every trick to make extra money includeding getting a lodger and old school money saving which has really helped.

I have tried making an excel spreadsheet so I can track my mortgage but always get it wrong so if anyone has one they would not mind passing on I'd appreciate that aswell.
cheers:beer:

cubegame

This site should tell you what you need to know:-

http://ray.met.fsu.edu/~bret/amortize.html

Andy_Hamilton

Thanks for the link.
I looks like I will have paid off a massive £1012 by the time next year comes along. Considering I paid £1300 HL fees I think I'm going to have work harder to save the extra £6278 (£627.80 per month):eek: to get under the 90% i was hoping for.