How much interest do you pay on your mortgage per day?

albionrovers

OverlandLandy wrote: »

£0.58 per day - the beauty of an offset!

Yip, £1.50 due to offset.

I'm a bit worried about the offset amount in today's climate though?

JonnyBravo

albionrovers wrote: »

Yip, £1.50 due to offset.

I'm a bit worried about the offset amount in today's climate though?

No need to.

eg
If you've got an offset amount of £100k and a mortgage of £110k, you are net -£10k. That is far less than the £+35k which is guaranteed to be covered by the compensation scheme.

However, the Govt have now shown their hand, and they aren't going to let any bank go to the wall and let people lose their deposits. The compensation scheme is all but irrelevant IMHO. They know full well if they did let one go down where depositors lost out EVERY bank would have a run on it.

jollybabe

Hey ... long-time lurking on this MFW board, finally got round to registering, in the hope it'll kick start my overpayment plans!

Current daily interest is £21.99... scary stuff!!

uzubairu

My daily interest is £12.77.
It dropped below £13.00 for the first time yesterday.

It was £14.31 at the beginning of 2008.

I have Nationwide mortgage and can online to see the interest amount increasing daily.

tomstickland

About £12 per day at the moment.

Badger_Lady

£11. And the lodgers pay £19 of that

amazamum

I've gone from About 7.62 pounds last year to 1.63 pounds a day same time this year.
I love offset mortgages.

cupid_s

£2.52 - I can't believe it's so low. Only thanks to all the recent rate cuts though

co123456

£1.15 on an outstanding debt of 23K

A loaf of bread.

I can live with that.

Redbedhead

My daily interest today was £16.59 which has decreased from £27.27 on the 1st January this year. While I would like to take credit for that, the majority of the decrease is due to the reducing interest rates as 2/3 of the mortgage is on a tracker.