Competitions
Deals & Bargains
Personal Finance
Thrifty Baby
Thrifty Beauty
Thrifty Christmas
Thrifty Fashion
Thrifty Food
Thrifty Holidays
Thrifty Home
Thrifty Homebody
Thrifty Outings
Thrifty Planet
Thrifty Wedding
Miss Thrifty3 June 15, 2010
Mortgage repayment calculators: ah, I’ve known a few. I ripped through them while compiling Miss Thrifty’s mortgage masterplan last year. Horrified that just £200 of our monthly mortgage payment was going towards the repayment of the principle amount, I worked out that if we overpaid by £500 every month, we could save £43K in bank interest payments and we would pay off our mortgage 13 years early.
My fellow personal finance blogger Monevator has just launched a shiny new mortgage repayment calculator on his site – and do check it out if mortgage overpayment is a subject that interests you, because this really is the best tool of its kind that I have seen.
Why?
Well, you fill out a simple form (below, with sample figures) and find out just how much money and time you can save:
But it gets better! This calculator also provides pretty pictures useful graphs for additional clarity and encouragement:
You can find it here at Monevator.
Calculator image credit: Creative Tools.
3 Responses to “The best mortgage repayment calculator out there”
Monevator says:
Wow, thanks very much for the rave review Miss Thrifty! 🙂
Well done on keeping up the UK end of the quest for frugality.
June 15, 2010 at 11:54 am
missthrifty says:
Ah, I do my best! You are very welcome. 🙂
June 15, 2010 at 12:05 pm
James Lower says:
Thanks for this. I’ve been looking for somewhere to point clients to for working out mortgage payments and calculations. Now I have somewhere.
October 24, 2012 at 4:17 pm