Mortgage calculator

 

Notes:

1.  The above figures assume an annual rest type mortgage which recalculates mortgage payments once a year.  As such they may slightly overstate the monthly payments for more flexible mortgages, offering monthly or even daily recalculation of payments.

2.  Since April 2000 mortgage loans have not attracted mortgage interest tax relief (MIRAS).

3.  A repayment mortgage is one where mortgage payments cover both interest costs and repayment of the original loan, so that the mortgage amount decreases over time.  An interest only mortgage is one where mortgage payments only cover interest costs.  With interest only loans, the mortgage amount does not automatically decrease over time.  Frequently, borrowers will set up an ISA, endowment or some other investment product (at additional cost), designed to repay the loan at the end of its term.

Kellands Mortgage Management Ltd is an appointed representative of Intrinsic Financial Planning Ltd and
Intrinsic Mortgage Planning Ltd who are authorised and regulated by the Financial Services Authority.
Registered in Northern Ireland No. NI054651
Registered Office: 212–218 Upper Newtownards Road, Belfast, BT4 3ET
Directors: Robert Forster Cert PFS Jonathan Finlay Cert PFS. ©2006 Kellands Mortgage Management Ltd. All rights reserved.