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

Kez100

Just under £300 a month - £10 ish a day.

We have some savings which would save £3.50 a day but are presently bringing in (tax free) £5.84 so we don't offset.

warrior_princess

we r paying 23£:eek: :eek:
now im more eager to get rid of it ..............the banks r not getting any more of our money

TurnaroundSue

£2.80 per day, but shortly due to reduce as will have around £1800 to make capital repayment with; but not clever enough to work how much it will reduce by.

Mortgage due to be paid off in 5 1/2 years time, but hoping to be 4 years due to op's (just wish we could pay off more than 5% in any one year though) otherwise would get rid alot quicker.

cake21

£26.17 per day at the beginning of the year :eek: :eek:
Since I've started overpaying, got it down to £23.59 per day, every little helps! :j

Lunar_Eclipse

Lunar_Eclipse wrote: »

£15.71 / day in interest

And now down to £15.04 / day!

shirlgirl2004

shirlgirl2004 wrote: »

Ours is £15 a day. That's a sobering thought.

Now down to about £7.13 a day :j . Did I work it out wrong last time?

jessicamb

£13.16 a day in August in interest payments.

OverlandLandy

£0.58 per day - the beauty of an offset!

Optimisticpair

TurnaroundSue wrote: »

£2.80 per day, but shortly due to reduce as will have around £1800 to make capital repayment with; but not clever enough to work how much it will reduce by.

Mortgage due to be paid off in 5 1/2 years time, but hoping to be 4 years due to op's (just wish we could pay off more than 5% in any one year though) otherwise would get rid alot quicker.

I'm not even clever enough to know how to work it out to start with

*Throws question open to forum*

Where do you get the info from?

cake21

Optimisticpair wrote: »

I'm not even clever enough to know how to work it out to start with

*Throws question open to forum*

Where do you get the info from?

I took the September's interest from my outgoings spreadsheet and divided by 30 (number of days in that month). If you're not as sad as me you can get the same information from your last mortgage statement or ask your mortgage provider.

Some other good tips earlier in the thread:

esthomizzy wrote: »

I worked it out by looking at my currently monthly interest figure from the whatsthecost.com site and then dividing it by 30.

biscit wrote: »

Could be ((12x your monthly payment) - Balance at start of year + Balance at end of year)/365

Or could be like mine todays balance - yesterdays balance .

Depends on what info you have available.

SoozyJ22 wrote: »

£8.73 for me. Calculated as: (today's balance * APR) / 365.25 which is how Nationwide work it out so it all balances out for leap years.