Mortgage Calculator
Are you are looking for a new mortgage loan or mortgage refinancing? Simply enter the total capital required, the term of the mortgage and the interest rate. Then click the 'calculate' button to get an idea of the yearly and monthly mortgage loan breakdowns. You can choose between monthly and annual interest calculations. An explanation of the two different types of mortgage is available in this article.
Whilst every effort has been made in building this mortgage calculator tool, I am not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the calculator tools and information derived from the web site. This mortgage calculator is here purely as a service to you, please use it at your own risk.
The calculations given by this mortgage calculator are only a guide. Please speak to an independent financial advisor for professional guidance.
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Frequently Asked Questions
What is a capital & repayment mortgage?A capital and repayment mortgage is a secured loan that is divided up into repayments of the money you borrowed (capital repayment) and payments of interest charges for the loan (interest payments). For more information, please see this article.
What is an interest only mortgage?
An interest only mortgage is a secured loan in which the monthly payments include only the interest on your loan. So, at the end of your mortgage term the balance of the initial value of the loan is still outstanding. For more information, please see this article.
What is negative equity?
As an example, if an interest-only mortgage is taken out on a property at £200,000 and, during the term of the mortgage, the value of the property drops to £150,000, you end up with a £200,000 outstanding loan on a property worth £150,000. This means that you are £50,000 in negative equity. A person holding negative equity is said to be "upside down".
Note: The 'what is' info shown above is provided for information purposes only. Please speak to an independent financial advisor for any kind of advice on mortgages or loans. The results given by the mortgage calculator are only a guide. Please speak to a mortgage advisor or independent financial advisor for accurate guidance.
