Interactive Calculators: Repayment Calculator

This "any currency" calculator takes a loan amount (derived from the purchase price and deposit) and calculates the monthly repayments over a set term or the whole life of the mortgage. It also allows you to caculate the overall APR for the loan and the Internal Rate of Return for the assumed life of the mortgage.

Both the Internal Rate of Return and the Annual Percentage Rate give an annual interest rate which accurately reflects every payment made on the loan, including fees and costs. The main difference between APR and the Internal Rate of Return, is that APR is always measured over the full life of a loan term, whereas the Internal Rate of Return allows you to compare the products over any length of time. This is more suitable when you consider that the average life of a mortgage is only 6 or 7 years.

Mortgage

Loan required:

Full term in years:

Assumed mortgage life:

Enter R for repayment, N for interest only:

Initial nominal interest rate:

Changing after:

To new interest rate of:

Rests per year (1 to 365)

Initial Costs

Check the boxes to add these initial costs to the loan. Leave blank to pay them up front.

Basic valuation fee

Application fee

Mortgage indemnity guarantee

Lender legal fees

Other mortgage related costs

Enter any initial refunds

Cashback

Other refunds

Enter any regular costs

Eg compulsory insurance premium

Enter any redemption fees

Fixed redemption charge

Redemption as months

Redemption as percentage

Monthly payments & IRR

Initial advance

Initial mortgage payment

Subsequent repayments

Total payments over assumed mortgage life

Internal Rate of Return

Annual Percentage Rate

Calculate

Please note: This calculator should be used for indicative purposes only and should not be taken as representing advice. Always get a full quotation from your lender or other professional adviser before purchasing a mortgage product. Because of differences in the method of calculation, APR can vary slightly across lenders for products which are essentially the same.