Download Free/Trial Version Of MortgageUK
mortgage-UK calculates the true cost of a mortgage and allows you to compare the effect of different interest rates andoverpayments. It is designed for the uk market, but may work for other country's mortgage systems. It runs on all versions of Windows.Use Mortgage Manager to create an icon for each mortgage you are evaluating, then enter values such as the mortgage amount,fixed/discounted/capped/cashback rates and the interest calculation period as well as one-off administration costs. Payment details are thencalculated with a month-by-month break-down of the payments and the running total. You can modify the interest rate and add over-paymentsto see their effect on the costs. Different mortgages can then be compared to see which is cheapest over various periods of time.But why do you need it? Because it's not possible to know which mortgage is cheapest just from the headline interest rate. Try this: Which ischeaper over 25 years? (1) A 3 year fixed rate of 4.5% with a setup fee of 300 and then a variable rate of 5.5%, or (2) A 5 year fixed rate of5.0% with a setup fee of 200 and then a variable rate of 5.5%? If you don't know, then you need Mortgage-UK to save you money.When you choose a mortgage it is easy to just pick the one with the lowest rate. This is not always a wise choice however since factors suchas setup fees, redemption penalties and the variable interest rate all have a significant effect on the overall cost. The only sure way to find thecheapest is to calculate the payments under the different interest rates, add them up and add on the fixed costs. Not much fun when youconsider the hundreds of mortgages on the UK market and the mathematics behind them. Mortgage-UK can do all this for you and could saveyou thousands!
Tags: calculator, best,
Screenshots For MortgageUK
