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

cake21

Mine is currently £10.20 per day, down from a maximum of £27.37:eek: in August 2007. It would have been £11.96 without the OPs - this doesn't feel like a big difference but as long as I'm still on track to pay it off early I guess it doesn't matter

ajmoney

I got mine down to £3.48 last year from £3.57. Nationwide then went and charged me £3.49 today, I am not sure how that works!

SalsaDanca

I'm currently paying £3.19 per day. I will be making a few overpayments in January, so it should be down to £3.00 per day by the end of the month.

mel19632

Ours is a shocking £33.62 a day... Not quite at the MFW yet - but hope to start this quest this year (around September) once we finished paying off the debts. Watch this space!!

wantabetterlife

Oh my goodness, i have just worked ours out at £20.45 per day :eek: . This has made me even more determind to really kick this mortgage into shape. There is no way the banks are making £20.45 per day out of me in 2010!!!! Interesting thread BTW

chirpchirp

I can't remember how to work it out.

Ahh, if it's the amount outstanding x the interest rate, divided by 365 then mine is £9.59!

Little_Mama

Little_Mama wrote: »

Just a mere £18.19 per day! But it's down from about £22 per day a few months ago. Hope to remortgage to an offset in early part of next year and bring that down even more.
LM

Delighted to say that as a result of a remortgage earlier in the year we now only pay £6.13 per day in interest. :j

Off to work on making it even lower.......

LM

abouttimetoo

abouttimetoo wrote: »

Nice to see this thread pop back up and see some of the changes in people's daily interest.

At it's highest I was paying £29.30 per day :eek: interest but I'm anticipating it's going to be around £10 per day in January, although it's worth nothing that this is largely due to drops in the base rater rather than my overpayments:D

I see I made the above post 18th December 2008 (sorry for being a nerd and finding my orginal post )

My records show that it did indeed drop to £9.89 a day in January 2008 but continued to drop as a result of base rate changes and Op's although I must say that the base rate drop was the biggest influencing factor. By Dec 2009 I was paying £2.36 interest a day with an average daily interest charge across the year of £3.64. Amazing to think that not that long ago it was £29.30 a day but that said I'm conscious that the interest rate must go up again at some point.

Mumto5

£16.82 - shocking when you work it out! Renew aim to pay more this year.

sweetserendipity

chirpchirp wrote: »

I can't remember how to work it out.

Ahh, if it's the amount outstanding x the interest rate, divided by 365 then mine is £9.59!

Thanks for that, chirpchirp. I've just done mine by that method, so, if that is the way to work it out, my interest is £11.08 per day!! _pale_ Eek!!