A quick and easy way to calculate monthly mortgage payments on a repayment mortgage. Simply enter the amount you wish to borrow, the term over which you intend to pay it off and the interest rate. Then hit the ‘Click to Calculate’ button.
The monthly payment figure includes both interest and payment towards the capital loan amount. This reduces the amount owed on the capital, month by month.
Anyone opting for an interest-only mortgage, such as linked to an endowment, ISA or pension savings policy, will need to add the cost of the monthly premiums of the policy to the interest figure. On maturity the savings policy is intended to pay off the capital loan.
These figures are intended as a guide only; please contact Headstart for a full illustration.