Mortgage Calculators are normally too simple
Here's a better one
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Last update : September 2010
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| One of the problems I have with most mortgage calculators available on the internet is that they're all far too simple.
The problem with simple is that a mortgage for most people is an extremely large loan therefore we should seek the most detailed financial information available.
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| So check out this Excel based mortgage calculator from http://www.vertex42.com. It was developed for the American market so I've changed a few details, including replacing £ for $ signs.
Some other points to note -
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- This Calculator is for repayment style mortgages and won't be any use for interest only deals - see this link for a simple interest only mortgage calculator
- Click on the small red triangles at the top right edge of each box in the Excel file for more information
- Play around with various figures and interest rates, see how the mortgage stacks up if rates were to climb say 3% or 4% - would you still be able to afford the repayments?
- Scroll down for detailed information of how every monthly payment affects the loan
- More mortgage spreadsheets are available on this link
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| Summary |
| Use this excellent mortgage calculator in conjunction with our FREE guide - how to get the right mortgage at the best price - and you won't go far wrong. |
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Searching for the Best Mortgage Deal?
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- We compare 8500 mortgages to find you the best value deal
- Free, no obligation quote
- We compare the whole market which means our quotes can't be beaten
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- More Details
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- £150,000 from £275 per month
- £200,000 from £367 per month
- £300,000 from £550 per month
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Read more in the Mortgage section:
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