Mortgage interest calculation

[Georgyporky]

I need to know how much interest would have been paid on a mortgage over 4 years in the 1990s.

Can anyone point me in the right direction, please?
I've searched the web, & can find the probable rates applicable, but was hoping for a calculator.

Thank you.

Do you know the amount outstanding on the mortgage at the beginning of the 4 years?

Do you know how much was paid each month towards the mortgage during the 4 years?

Was it an interest only mortgage?
Simplest calculation for interest only would be
outstanding Amount × [interest rate divided by 100]= one year interest. Multiply by 4.

If it was repayment mortgage then its more complicated. Let me know the missing variables mentioned above plus the interest rate you are assuming and I'll let you know what I think the answer would be.

@1wer Thank you so much for replying.

It was a mortgage of £23,000 taken out on 04/08/92, & repaid by an insurance policy on 12/05/96.
It was a repayment mortgage, I think it was 25 years, & I can't remember the repayments.

A rough figure would be very welcome. I have to claim the figure for tax purposes in a foreign country, which is then checked for reasonableness.

https://www.moneysavingexpert.com/mortgages/mortgage-rate-calculator/

Pop your details in this calculator with the full term and interest rate. It brings up a graph of how much capital would be outstanding at the end of each year.

There might be other ones that do it by month but I use this one often.

Historic base rates here https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

Maybe add a couple of percent to the average over the period? Then you can plug into a mortgage calculator.

average mortgage rates here although having lived through this it seems quite low

Taking the average bank of england interest rate between 1992 and 1996 i get 6.1375% which seems sensible assumption if we don't know.

The repayment amounts make a big difference to the interest paid (which we don't know) but if you were repaying £300 a month the interest paid would have been ..... £4371.76. Total amount left on the mortgage would have been around £13,580

If you were paying £200 a month it would have been £4,943 in interest. Total amount left would have been £18,700

If you know how much the insurance company paid out then you could use that information to estimate the monthly payment. Working backwards.

You can't have been paying more than £600 a month or it would have been paid off already by 1996.

Always happy to learn if I made a mistake but I would put a value between 4k.

@1wer Thank you so much for going to the trouble of working that out.

I'm sorry I didn't get back to thank you earlier, but I didn't realise you had responded.