A UK Personal Finance Blog – The result of direct exposure to the fallout of the financial crisis.


Mortgage Balance Calculator – What’s Left on My Mortgage after the Fixed Rate Offer Ends?


Find in Mortgages February 15th, 2008 - 90,798 views

Here’s an interesting tool I found while trying to find out which mortgage product reduced the overall debt by the most over a certain period.

> Mortgage Balance Calculator <

How to use the calculator:

This calculator produces ‘amortization’ tables for the mortgage which show the remaining balance at the end of each year.

If you are looking at a 5 year fixed offer, you must put in the entire term of the mortgage eg. 25 years then look at the tables to find the end of 5 years.

The rate you input is used for the entire term but if you are considering a 5 year fixed mortgage, the table will show the mortgage balance at the end of 5 years.

If you are looking at a variable rate mortgage, any calculation will not reflect any changes in the rate but if you want to know how your mortgage will be affected by changes simply put a higher or lower figure for the rate and calculate again.

When calculating don’t forget to add any fees onto the amount you wish to borrow for an accurate calculation.

For example if you are looking at a mortgage with a 5 year fixed rate and you wish to borrow £150,000 but the lenders arrangement fee is £1500, (unless you are paying this upfront) the total borrowing will be £151,500.

This way you can easily find out if a Fixed rate mortgage with an arrangement fee will leave you better off at the end of the offer period than a mortgage without an arrangement fee.

To find out your current mortgage balance, your lender will be able to give you an exact figure.

2 Responses to “Mortgage Balance Calculator – What’s Left on My Mortgage after the Fixed Rate Offer Ends?”

  1. Mike Says:

    Have checked out this firm’s calculators, and the rest of the site.
    WOW!! What a mine of information. Superbly presented – and makes this subject interesting!!

  2. Barry Says:

    Very impressive. Keep up the good work!

Main Menu:

Contact an IFA:

Get an IFA to call:
  1. (required)
  2. (valid email required)
 

cforms UKMoneyPot

Categories:

Popular Posts:

Archives:

 Subscribe in a reader

Life Insurance with medical Conditions

Popular Finance Sites:

Useful Sites:

Calculators:

More UK Blogs:

More Useful Sites:


Get Listed.

US Blogs:

Disclaimer:

Any information shared on UKMoneyPot does not constitute financial advice. The Website is intended to provide general information only and does not attempt to give you advice that relates to your specific circumstances. You are advised to discuss your specific requirements with an independent financial adviser.