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Mortgage Calculator

Written by on 30 Sep 2007

Here’s a useful tool that calculates how much a monthly mortgage would cost if you enter real or hypothetical scenerios- useful for planning if you’re thinking of getting a mortgage or remortgaging. It takes into considering the amount you’re borrowing, and the life-span of your loan.

This calculator is also particularly useful for those on variable mortgages because it calculates how much monthly mortgage payments would change if there was a change in interest rate.

Mortgage required
(omit commas)		 £  
Repayment period
(omit commas)
    years
Interest rate
(enter 10% as 10)
    %
       
Monthly repayment
(omit commas)
 £  
(Interest only)
 £  
But be careful, at 12% it will be:
 £  
(Interest only) £  
     

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3 Comments - join the conversation...

Default Avatar
Monica2008-09-20 18:59:06 Great tool, thanks for sharing. I needed a tool like this especially now when mortgage rates seems to be a tug of war with financial institutions now. A savings in the interest rates is what matters now. 1
The Landlord Avatar
The Landlord2008-09-20 21:16:41 Tell me about it. I'm due to remortgage soon, so I'll be keeping an eye out for the best deals! It's going to be an unpredictable rollarcoaster with interest rates! 2
Default Avatar
Chris Jenkins2009-10-10 20:54:11 This little tool very helpful thanks,ive been paying more on my morgage for years. If you can afford it you should do this ill be 44/45 when mine is paid off, what a feeling, also my house value has more than doubled.Alway pay at the begining of the month as well if u can saves u interest as well.Thanks 3

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