Sorry if I sound totally daft asking this but is there a way to figure out what portion of the monthly mortgage payment is towards the interest versus the repayment of the loan.
Most online calculators only tell you what your monthly repayment total would be rather than breaking it down and it makes comparing different scenarios very difficult.
For example I'd like to know how much interest would I be paying if my total monthly payment was £2000 at 2% or 3%?
Does anyone have a formula or an online calculator they have found to help with this?
Thank you.