UPDATE: After receiving several requests for a slightly more dynamic mortgage comparison tool, we overhauled the mortgage comparison calculator and produced a new mortgage comparison calculator which encompasses full introductory offers and dynamic interest rates, you can now see exactly how much you will pay during the introductory period, ideal for those who change mortgages regularly when they reach the end of mortgage tie in period and remortgage to access better interest rates and pay less on their mortgage each month. Try the new Mortgage Comparison Calculator now.
The Mortgage Comparison Calculator allows you to compare up to four different fixed rate mortgage plans against a mortgage for £170,000.00.
You can adjust the mortgage amount at the top of the calculator (default mortgage is £170,000.00 for this mortgage illustration), you can also adjust the annual interest rate and number of months for each plan in the boxes below. This allows you to view different mortgage costs, amounts paid and your monthly mortgage repayment on a £170,000.00 mortgage.
The monthly payment, total interest due and total amount of the plan are calculated.
A table is displayed to show the payment schedule for each plan, which illustrates a breakdown of the monthly payment for each month:
- The Principal column (Prin.) shows the amount paid off the mortgage
- The Interest column (Int.) shows the interest paid against the outstanding balance
- The Balance column (Bal.) shows the amount outstanding after deducting the monthly payment
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