I want a month by month breakdown of a £105000 mortgage over 18 years,fixed at 3.79%for 3 years and then at 5% for the next 7 years.-David
what would you like the assumed rate to be for the last 8 years ?
| 03.20.12 @ 12:48
Hi David. Assuming you take the mortgage on a repayment basis over 10 years (the first 3 years at 3.79% and the remaining 7 years at 5.05), the monthly payments would be:
Years 1-3 - £1,052.63
Years 4-10 - £1,096.18
The very first payment would consist of £331.63 interest and £721.00 capital. After year 3 the remaining mortgage balance would be £77,564.46. The first payment at 5.0% would consist of £323.15 interest and £773.03 capital.
Should my assumption be incorrect, please let me know the full details, and I will happily provide the correct figures.
If you would like to discussin more detail, please do not hesitate to get in touch - paul.skinner[@]pks.org.uk or 03332 407040.
Paul | 03.20.12 @ 13:26
Sorry, the above comment should have read "the remaining 7 years at 5.0%)" | 03.20.12 @ 13:27