ON-LINE MORTGAGE TOOLS

Select from the following list of useful mortgage tools.  Note that some do not work properly on older versions of Netscape Navigator. Also all tools are available as downloadable spreadsheets:-

The Mortgage Wizard.  Answer just three simple questions to determine what type of mortgage scheme best suits you.  Is it repayment or interest-only?  Is is a fixed rate, discount, cashback, cap or collar?  Should it be a flexible mortgage?

Simple Mortgage Calculator.  Enter the loan required, its term and the interest rate to calculate the monthly repayments.  If you know the compounding period (i.e. when interest is accrued, e.g. monthly, like many banks, or annually like many Building Societies) you can refine the calculation.

Mortgage Affordability Calculator.  If you know how much you can afford each month, you can calculate approximately what size mortgage loan this means.  You can also see the typical income you need to earn to qualify for such a mortgage.

Re-Mortgage Calculator.  If you want to switch mortgage schemes without moving house, you will need to know if it is financially worthwhile.  This tool calculates the savings possible on a new scheme so you can check it against the upfront costs of the switch.

Any Loan Calculator & Illustrator.  This tool is now only available as a spreadsheet called 'Mortgage Illustration & Comparator'.

Investment Property Returns.  Find out the anticipated return on capital when you purchase a commercial or residential investment property that is let.  Check whether it is better to borrow rather than to pay cash. Bug corrected 5 Apr 2006.