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Can anyone help me work out how much mortgage will be left in 3 years?

2 replies

TwigTheWonderKid · 06/09/2022 11:38

We are currently on what has been a great tracker mortgage but we've been offered a good fix at 3.54%.

We've been offered 2,3,5 or 7 years on this rate. Our mortgage is really small so if we get it wrong it won't be the end of the world so thought I'd hedge my bets and go for 3 years.

I'd quite like to know how much we'll have left to pay back at the end of the 3 years but I'm crap at maths and not sure how I can work this out. I know interest is calculated daily. I did ask our mortgage provider but they said they couldn't tell me!

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MimosaSunrise · 06/09/2022 11:43

Google Halifax mortgage overpayment calculator - you can mess about with all sorts of variables. HSBC used to have a good calculator, but it has disappeared and this is now the best one IMO.

I used it when coming off a tracker myself last month.

TwigTheWonderKid · 06/09/2022 12:09

MimosaSunrise · 06/09/2022 11:43

Google Halifax mortgage overpayment calculator - you can mess about with all sorts of variables. HSBC used to have a good calculator, but it has disappeared and this is now the best one IMO.

I used it when coming off a tracker myself last month.

Thanks, that's a brilliant tool. Now I just need a crystal ball to decide if 3 year fix is enough!

What did you go for?

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