Mortgage Overpayments

[midlandsgrimpeur]

When I was considering all this pre-purchase I couldn't find any calculators to tell me the same information you're requesting, so I knocked up a spreadsheet. I can't make any guarantees as to its accuracy (seemed OK when benchmarked against online stuff for other calcs) or ease of use, but I can try and dig it out if you want me to send you a copy

If you could find it, that would be greatly appreciated!

 

[Ming the Merciless]

What kind of mortgage is it? Are you paying both capital and interest in your monthly payments, or it is interest only and you are expected to pay the capital at the end?

 

[midlandsgrimpeur]

What kind of mortgage is it? Are you paying both capital and interest in your monthly payments, or it is interest only and you are expected to pay the capital at the end?

Capital and interest. My original plan was to pay down a chunk of the arrears when my initial five year fixed rate ends. I have the money available now so it is trying to work out if paying a lump sum now gets my arrears even lower by year 5.