Quizzes & Puzzles3 mins ago
buy to let
can someone please help me work out this simple matter... if i want to purchase a property and have a mortgage rate in mind, how do i calculate what my monthly interest only payment would be using the purchase price deposit usually min of 15% and remaining mortgage, does anyone know where there is a calculator on-line maybe to do this, thank you
Answers
No best answer has yet been selected by B.Bee. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Amount borrowed times interest rate divided by 100 divided by 12
eg 100000x8�100�12 if the interest rate is 8% - �666.66 a month
(no idea of real interest rates sorry if it's a ridiculous figure)
the purchase price and deposit are irrelevant to this calculation
If you are using windows there is a calculator in programs-accessories - don't even need to be online.
I think you may really be asking a different question.....