Mortgage Calculator

Interest only assumes you will find the Capital amount from elsewhere, Insurance policy etc. Repayment pays a small amount of Capital off each month until the loan is repaid. Calculation based on U.K. system 
Calculations correct to a few pence, rounding up differences may occur.

Select Type of Mortgage :-	IntOnly RepayMent
Enter The Amount Borrowed :-
Enter The Interest Rate Charged :-
Enter The Term In Years :-
Your Monthly Payment is :-
Your Yearly Payment is :-
Your Capital Outstanding after 1 year is :-

Calculator by Nigel Peter Watson

Please note that with an interest only mortgage at no time will the mortgage amount be reduced. At the end of the term you will still owe the original amount borrowed. In the long term interest only mortgages cost more.