Use our Mortgage Calculator with the current mortgage rates and see how much it would cost, how much you could save and more.
In order to obtain an accurate idea of the cost of a mortgage, please use our mortgage calculator. Using the current mortgage rates, you will be able to calculate the monthly mortgage cost of either a repayment mortgage or an interest only mortgage.
You may want to use the mortgage calculator to see whether the mortgage on your new home is affordable for example or how much your mortgage payments might be if you increased your mortgage loan via a re-mortgage with your existing mortgage lender to name just a couple of uses for the mortgage calculator.
Unlike some mortgage payment calculators, you will be able to see the effect of making over payments by selecting an amount of your choice. With mortgage rates on the low side, now might be the best time to consider refinancing your mortgage and taking advantage of some low fixed rate mortgages if you like what you see having used the mortgage calculator. The mortgage calculator will help you see what your payments might be and very useful additional information.
How to use the mortgage calculator.
Enter the amount of the loan, the interest rate and the term of the mortgage that you would like to calculate. Once you hit the calculate button you will see the monthly mortgage payment for either a repayment mortgage or interest only mortgage.
By hovering your cursor over the line at any point, you will be able to see how much of the mortgage loan would be outstanding. The mortgage calculator will also calculate the effect that any monthly mortgage overpayment will have if you are interested in paying off your mortgage and being debt free.
Entering an amount will enable you to see how much sooner your mortgage will be repaid as well the amount of mortgage interest that will be saved off the overall cost of borrowing as a result of your mortgage overpayments.
Warning
There are different ways Lenders arrive at repayment figures for mortgages. This mortgage calculator should only be used as a guide to repayment figures. An actual APR figure is the most effective way of comparing costs.
Your property may be repossessed if you do not keep up repayments on your mortgage.
We hope that you find our mortgage calculator useful and if you have any queries or would like more information about the current mortgage rates that are available then please call us or click here for our free call back service.
As an Independent Mortgage Broker you can choose how we are paid: we can be paid by commission or a fee (usually 0.3%) of the loan amount.