The Post Office Horizon Enquiry
News1 min ago
Mortgage early payment & Compond Interest
9 Answers
I wonder if a fellow ABer would do me a big big favour??
Being totally useless with this type of thing (formulae are all Greek to me even though its Latin) I would like to know what the outstanding balance of my mortgage will be as of 31 July 2015 given the following details:
Amount borrowed £30k 31 November 2007 over 10 years with a fixed rate of 4.89%. Monthly repayments £316.80.
Need to know balance as of that date as I have an insurance policy maturing during July 2015 and whilst I cannot get the final settlement figure on that I need to know if the ball park figure will be anywhere near or will I need a small top-up [hope it wont be a large one !!!].
Many thanks to any help given.
Being totally useless with this type of thing (formulae are all Greek to me even though its Latin) I would like to know what the outstanding balance of my mortgage will be as of 31 July 2015 given the following details:
Amount borrowed £30k 31 November 2007 over 10 years with a fixed rate of 4.89%. Monthly repayments £316.80.
Need to know balance as of that date as I have an insurance policy maturing during July 2015 and whilst I cannot get the final settlement figure on that I need to know if the ball park figure will be anywhere near or will I need a small top-up [hope it wont be a large one !!!].
Many thanks to any help given.
Answers
1 to 9 of 9
First 60 months
20:09 Fri 27th Jan 2012
This confirms that the mortgage payments are correct for a repayment mortgage.
http://www.moneysuper...mortgages/calculator/
I'll look at your calculation after a cup of tea
http://www.moneysuper...mortgages/calculator/
I'll look at your calculation after a cup of tea
By then around 91 of your 120 monthly payments will have been made. The capital would have been paid off a little slower at first as most of your fixed payment would have been interest payments but as the capital was gradually repaid the interest payment gradually fell and the speed at which capital was paid off increased.
I reckon around £9000 will be outstanding by July 2015. I used this
http://dev.trigoldcry.../mortgage-calculators
I could do a more accurate calculation if I had time but the answer wouldn't vary by more than a thousand pounds either way
I reckon around £9000 will be outstanding by July 2015. I used this
http://dev.trigoldcry.../mortgage-calculators
I could do a more accurate calculation if I had time but the answer wouldn't vary by more than a thousand pounds either way
Hello again.
I have a spreadsheet but AB won't let me paste it in- the submit button becomes greyed out once I paste in the figures.
I have calculated your balance will be between £8500 and £9000 depending on the exact timing of your insurance policy maturity relative the timing of your monthly mortage payments.
I'll see how I can paste in the table
I have a spreadsheet but AB won't let me paste it in- the submit button becomes greyed out once I paste in the figures.
I have calculated your balance will be between £8500 and £9000 depending on the exact timing of your insurance policy maturity relative the timing of your monthly mortage payments.
I'll see how I can paste in the table
First 60 months
month capital b/f payment interest capital capital c/f
1 30000.00 316.80 122.25 194.55 29805.45
2 29805.45 316.80 121.46 195.34 29610.11
3 29610.11 316.80 120.66 196.14 29413.97
4 29413.97 316.80 119.86 196.94 29217.03
5 29217.03 316.80 119.06 197.74 29019.29
6 29019.29 316.80 118.25 198.55 28820.74
7 28820.74 316.80 117.44 199.36 28621.39
8 28621.39 316.80 116.63 200.17 28421.22
9 28421.22 316.80 115.82 200.98 28220.24
10 28220.24 316.80 115.00 201.80 28018.43
11 28018.43 316.80 114.18 202.62 27815.81
12 27815.81 316.80 113.35 203.45 27612.36
13 27612.36 316.80 112.52 204.28 27408.08
14 27408.08 316.80 111.69 205.11 27202.97
15 27202.97 316.80 110.85 205.95 26997.02
16 26997.02 316.80 110.01 206.79 26790.23
17 26790.23 316.80 109.17 207.63 26582.60
18 26582.60 316.80 108.32 208.48 26374.13
19 26374.13 316.80 107.47 209.33 26164.80
20 26164.80 316.80 106.62 210.18 25954.62
21 25954.62 316.80 105.77 211.03 25743.59
22 25743.59 316.80 104.91 211.89 25531.69
23 25531.69 316.80 104.04 212.76 25318.93
24 25318.93 316.80 103.17 213.63 25105.31
25 25105.31 316.80 102.30 214.50 24890.81
26 24890.81 316.80 101.43 215.37 24675.44
27 24675.44 316.80 100.55 216.25 24459.20
28 24459.20 316.80 99.67 217.13 24242.07
29 24242.07 316.80 98.79 218.01 24024.05
30 24024.05 316.80 97.90 218.90 23805.15
31 23805.15 316.80 97.01 219.79 23585.36
32 23585.36 316.80 96.11 220.69 23364.67
33 23364.67 316.80 95.21 221.59 23143.08
34 23143.08 316.80 94.31 222.49 22920.59
35 22920.59 316.80 93.40 223.40 22697.19
36 22697.19 316.80 92.49 224.31 22472.88
37 22472.88 316.80 91.58 225.22 22247.66
38 22247.66 316.80 90.66 226.14 22021.51
39 22021.51 316.80 89.74 227.06 21794.45
40 21794.45 316.80 88.81 227.99 21566.46
41 21566.46 316.80 87.88 228.92 21337.55
42 21337.55 316.80 86.95 229.85 21107.70
43 21107.70 316.80 86.01 230.79 20876.91
44 20876.91 316.80 85.07 231.73 20645.19
45 20645.19 316.80 84.13 232.67 20412.52
46 20412.52 316.80 83.18 233.62 20178.90
47 20178.90 316.80 82.23 234.57 19944.33
48 19944.33 316.80 81.27 235.53 19708.80
49 19708.80 316.80 80.31 236.49 19472.31
50 19472.31 316.80 79.35 237.45 19234.86
51 19234.86 316.80 78.38 238.42 18996.44
52 18996.44 316.80 77.41 239.39 18757.05
53 18757.05 316.80 76.43 240.37 18516.69
54 18516.69 316.80 75.46 241.34 18275.34
55 18275.34 316.80 74.47 242.33 18033.02
56 18033.02 316.80 73.48 243.32 17789.70
57 17789.70 316.80 72.49 244.31 17545.39
58 17545.39 316.80 71.50 245.30 17300.09
59 17300.09 316.80 70.50 246.30 17053.79
60 17053.79 316.80 69.49 247.31 16806.48
month capital b/f payment interest capital capital c/f
1 30000.00 316.80 122.25 194.55 29805.45
2 29805.45 316.80 121.46 195.34 29610.11
3 29610.11 316.80 120.66 196.14 29413.97
4 29413.97 316.80 119.86 196.94 29217.03
5 29217.03 316.80 119.06 197.74 29019.29
6 29019.29 316.80 118.25 198.55 28820.74
7 28820.74 316.80 117.44 199.36 28621.39
8 28621.39 316.80 116.63 200.17 28421.22
9 28421.22 316.80 115.82 200.98 28220.24
10 28220.24 316.80 115.00 201.80 28018.43
11 28018.43 316.80 114.18 202.62 27815.81
12 27815.81 316.80 113.35 203.45 27612.36
13 27612.36 316.80 112.52 204.28 27408.08
14 27408.08 316.80 111.69 205.11 27202.97
15 27202.97 316.80 110.85 205.95 26997.02
16 26997.02 316.80 110.01 206.79 26790.23
17 26790.23 316.80 109.17 207.63 26582.60
18 26582.60 316.80 108.32 208.48 26374.13
19 26374.13 316.80 107.47 209.33 26164.80
20 26164.80 316.80 106.62 210.18 25954.62
21 25954.62 316.80 105.77 211.03 25743.59
22 25743.59 316.80 104.91 211.89 25531.69
23 25531.69 316.80 104.04 212.76 25318.93
24 25318.93 316.80 103.17 213.63 25105.31
25 25105.31 316.80 102.30 214.50 24890.81
26 24890.81 316.80 101.43 215.37 24675.44
27 24675.44 316.80 100.55 216.25 24459.20
28 24459.20 316.80 99.67 217.13 24242.07
29 24242.07 316.80 98.79 218.01 24024.05
30 24024.05 316.80 97.90 218.90 23805.15
31 23805.15 316.80 97.01 219.79 23585.36
32 23585.36 316.80 96.11 220.69 23364.67
33 23364.67 316.80 95.21 221.59 23143.08
34 23143.08 316.80 94.31 222.49 22920.59
35 22920.59 316.80 93.40 223.40 22697.19
36 22697.19 316.80 92.49 224.31 22472.88
37 22472.88 316.80 91.58 225.22 22247.66
38 22247.66 316.80 90.66 226.14 22021.51
39 22021.51 316.80 89.74 227.06 21794.45
40 21794.45 316.80 88.81 227.99 21566.46
41 21566.46 316.80 87.88 228.92 21337.55
42 21337.55 316.80 86.95 229.85 21107.70
43 21107.70 316.80 86.01 230.79 20876.91
44 20876.91 316.80 85.07 231.73 20645.19
45 20645.19 316.80 84.13 232.67 20412.52
46 20412.52 316.80 83.18 233.62 20178.90
47 20178.90 316.80 82.23 234.57 19944.33
48 19944.33 316.80 81.27 235.53 19708.80
49 19708.80 316.80 80.31 236.49 19472.31
50 19472.31 316.80 79.35 237.45 19234.86
51 19234.86 316.80 78.38 238.42 18996.44
52 18996.44 316.80 77.41 239.39 18757.05
53 18757.05 316.80 76.43 240.37 18516.69
54 18516.69 316.80 75.46 241.34 18275.34
55 18275.34 316.80 74.47 242.33 18033.02
56 18033.02 316.80 73.48 243.32 17789.70
57 17789.70 316.80 72.49 244.31 17545.39
58 17545.39 316.80 71.50 245.30 17300.09
59 17300.09 316.80 70.50 246.30 17053.79
60 17053.79 316.80 69.49 247.31 16806.48
Last 60 months.
month capital b/f payment interest capital capital c/f
61 16806.48 316.80 68.49 248.31 16558.17
62 16558.17 316.80 67.47 249.33 16308.84
63 16308.84 316.80 66.46 250.34 16058.50
64 16058.50 316.80 65.44 251.36 15807.14
65 15807.14 316.80 64.41 252.39 15554.76
66 15554.76 316.80 63.39 253.41 15301.34
67 15301.34 316.80 62.35 254.45 15046.89
68 15046.89 316.80 61.32 255.48 14791.41
69 14791.41 316.80 60.27 256.53 14534.89
70 14534.89 316.80 59.23 257.57 14277.31
71 14277.31 316.80 58.18 258.62 14018.70
72 14018.70 316.80 57.13 259.67 13759.02
73 13759.02 316.80 56.07 260.73 13498.29
74 13498.29 316.80 55.01 261.79 13236.49
75 13236.49 316.80 53.94 262.86 12973.63
76 12973.63 316.80 52.87 263.93 12709.70
77 12709.70 316.80 51.79 265.01 12444.69
78 12444.69 316.80 50.71 266.09 12178.61
79 12178.61 316.80 49.63 267.17 11911.43
80 11911.43 316.80 48.54 268.26 11643.17
81 11643.17 316.80 47.45 269.35 11373.82
82 11373.82 316.80 46.35 270.45 11103.37
83 11103.37 316.80 45.25 271.55 10831.81
84 10831.81 316.80 44.14 272.66 10559.15
85 10559.15 316.80 43.03 273.77 10285.38
86 10285.38 316.80 41.91 274.89 10010.49
87 10010.49 316.80 40.79 276.01 9734.49
88 9734.49 316.80 39.67 277.13 9457.35
89 9457.35 316.80 38.54 278.26 9179.09
90 9179.09 316.80 37.40 279.40 8899.70
91 8899.70 316.80 36.27 280.53 8619.16
92 8619.16 316.80 35.12 281.68 8337.49
93 8337.49 316.80 33.98 282.82 8054.66
94 8054.66 316.80 32.82 283.98 7770.69
95 7770.69 316.80 31.67 285.13 7485.55
96 7485.55 316.80 30.50 286.30 7199.25
97 7199.25 316.80 29.34 287.46 6911.79
98 6911.79 316.80 28.17 288.63 6623.16
99 6623.16 316.80 26.99 289.81 6333.35
100 6333.35 316.80 25.81 290.99 6042.35
101 6042.35 316.80 24.62 292.18 5750.18
102 5750.18 316.80 23.43 293.37 5456.81
103 5456.81 316.80 22.24 294.56 5162.25
104 5162.25 316.80 21.04 295.76 4866.48
105 4866.48 316.80 19.83 296.97 4569.51
106 4569.51 316.80 18.62 298.18 4271.33
107 4271.33 316.80 17.41 299.39 3971.94
108 3971.94 316.80 16.19 300.61 3671.32
109 3671.32 316.80 14.96 301.84 3369.49
110 3369.49 316.80 13.73 303.07 3066.42
111 3066.42 316.80 12.50 304.30 2762.11
112 2762.11 316.80 11.26 305.54 2456.57
113 2456.57 316.80 10.01 306.79 2149.78
114 2149.78 316.80 8.76 308.04 1841.74
115 1841.74 316.80 7.51 309.29 1532.44
116 1532.44 316.80 6.24 310.56 1221.89
117 1221.89 316.80 4.98 311.82 910.07
118 910.07 316.80 3.71 313.09 596.98
119 596.98 316.80 2.43 314.37 282.61
120 282.61 316.80 1.15 315.65 -33.04
month capital b/f payment interest capital capital c/f
61 16806.48 316.80 68.49 248.31 16558.17
62 16558.17 316.80 67.47 249.33 16308.84
63 16308.84 316.80 66.46 250.34 16058.50
64 16058.50 316.80 65.44 251.36 15807.14
65 15807.14 316.80 64.41 252.39 15554.76
66 15554.76 316.80 63.39 253.41 15301.34
67 15301.34 316.80 62.35 254.45 15046.89
68 15046.89 316.80 61.32 255.48 14791.41
69 14791.41 316.80 60.27 256.53 14534.89
70 14534.89 316.80 59.23 257.57 14277.31
71 14277.31 316.80 58.18 258.62 14018.70
72 14018.70 316.80 57.13 259.67 13759.02
73 13759.02 316.80 56.07 260.73 13498.29
74 13498.29 316.80 55.01 261.79 13236.49
75 13236.49 316.80 53.94 262.86 12973.63
76 12973.63 316.80 52.87 263.93 12709.70
77 12709.70 316.80 51.79 265.01 12444.69
78 12444.69 316.80 50.71 266.09 12178.61
79 12178.61 316.80 49.63 267.17 11911.43
80 11911.43 316.80 48.54 268.26 11643.17
81 11643.17 316.80 47.45 269.35 11373.82
82 11373.82 316.80 46.35 270.45 11103.37
83 11103.37 316.80 45.25 271.55 10831.81
84 10831.81 316.80 44.14 272.66 10559.15
85 10559.15 316.80 43.03 273.77 10285.38
86 10285.38 316.80 41.91 274.89 10010.49
87 10010.49 316.80 40.79 276.01 9734.49
88 9734.49 316.80 39.67 277.13 9457.35
89 9457.35 316.80 38.54 278.26 9179.09
90 9179.09 316.80 37.40 279.40 8899.70
91 8899.70 316.80 36.27 280.53 8619.16
92 8619.16 316.80 35.12 281.68 8337.49
93 8337.49 316.80 33.98 282.82 8054.66
94 8054.66 316.80 32.82 283.98 7770.69
95 7770.69 316.80 31.67 285.13 7485.55
96 7485.55 316.80 30.50 286.30 7199.25
97 7199.25 316.80 29.34 287.46 6911.79
98 6911.79 316.80 28.17 288.63 6623.16
99 6623.16 316.80 26.99 289.81 6333.35
100 6333.35 316.80 25.81 290.99 6042.35
101 6042.35 316.80 24.62 292.18 5750.18
102 5750.18 316.80 23.43 293.37 5456.81
103 5456.81 316.80 22.24 294.56 5162.25
104 5162.25 316.80 21.04 295.76 4866.48
105 4866.48 316.80 19.83 296.97 4569.51
106 4569.51 316.80 18.62 298.18 4271.33
107 4271.33 316.80 17.41 299.39 3971.94
108 3971.94 316.80 16.19 300.61 3671.32
109 3671.32 316.80 14.96 301.84 3369.49
110 3369.49 316.80 13.73 303.07 3066.42
111 3066.42 316.80 12.50 304.30 2762.11
112 2762.11 316.80 11.26 305.54 2456.57
113 2456.57 316.80 10.01 306.79 2149.78
114 2149.78 316.80 8.76 308.04 1841.74
115 1841.74 316.80 7.51 309.29 1532.44
116 1532.44 316.80 6.24 310.56 1221.89
117 1221.89 316.80 4.98 311.82 910.07
118 910.07 316.80 3.71 313.09 596.98
119 596.98 316.80 2.43 314.37 282.61
120 282.61 316.80 1.15 315.65 -33.04
1 to 9 of 9
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