Mortgage Repayment Calculator

Calculates the monthly payments for a capital & interest mortgage (repayment mortgage) using the 'daily' interest calculation method (interest only figure also provided).

A graph showing mortgage repayments is displayed along with a pie chart showing the percentage equity in your home. A second calculator will appear allowing you to project how much equity would be in your home after a series of mortgage repayments and also allows for changes in house prices.

Click on the graphs to reveal underlying figures.

<% If Request.QueryString("Button1")<>"" then %> <% End if %>

Buy to let Calculator <% Dim loan, rate, term, years, months, repayment1, repayment2, interestonly1, interestonly2, propertyvalue, averagerate Dim futurehouseprice, inflationperiod, inflation, futuremortgage, title, capital, rent, mtype futurehouseprice=0 If Request.QueryString("Button1")<>"" then inflation = request.querystring("inflation") inflationperiod = request.querystring("inflationperiod") if inflationperiod = "" then inflationperiod = 0 end if rate = request.querystring("rate") if rate = "" then rate = 0 end if mtype = request.querystring("mtype") if mtype = "" then mtype = 0 end if years = request.querystring("years") if years = "" then years = 25 end if months = request.querystring("months") if months = "" months = 0 end if rent = request.querystring("rent") if rent = "" then rent = 0 end if term = (years*12)+months averagerate = 6.99 loan = rent/5.5/1.30*1200 propertyvalue = loan/0.85 repayment1 = PMT(rate/12/100,term,-loan,0,0) repayment2 = PMT(averagerate/12/100,term,-loan,0,0) interestonly1 = (rate/12/100)*loan interestonly2 = (averagerate/12/100)*loan futuremortgage = FV(rate/12/100,inflationperiod*12,repayment1,-loan,0) futurehouseprice = FV(inflation/12,inflationperiod*12,0,-propertyvalue,0) capital = PPMT(rate/12/100,1,term,-loan,0) session("mortgage")= futuremortgage session("equity")= futurehouseprice-futuremortgage session("term")= term session("capital") = capital session("loan") = loan session("repayment") = repayment1 session("rate") = rate/12/100 session("originalloan") = loan session("mtype") = mtype end if %> Rental Income pm *Interest Rate % Term yrs mths *Buy to let rates are unlikely to be less than 5%		<% If Request.QueryString("Button1")<>"" then %> graph loading <% else %> Graph show mortgage balance, displayed after calculating <% End if %>
You may be able to borrow: <%response.write(formatcurrency(loan))%> The Property Value must be at least: <%response.write(formatcurrency(propertyvalue))%>
Monthly Payment (Capital & Interest): <%response.write(formatcurrency(repayment1))%> Monthly Payment (Interest Only, no capital is repaid):* <% response.write(formatcurrency(interestonly1)) %> *Interest Only mortgages should have a suitable repayment plan, why not consider an ISA or Pension to repay your mortgage? Alternatively, consider an offset mortgage to save interest by combining your savings with the mortgage - full access to savings is retained.
How will a repayment mortgage reduce and, if property prices rise or fall, what will be the effect on the equity in your investment?
Equity Projector Period (years) Mortgage Type <%if request.querystring("button1")="" then %> Repayment Interest Only <% Else If Request.QueryString("mtype") = 0 Then Response.Write("Repayment") Response.Write("Interest Only") End if If Request.QueryString("mtype") = 1 Then Response.Write("Repayment") Response.Write("Interest Only") End if end if %> Inflation (annual %) <%if request.querystring("button1")="" then %> -4% -5% -3% -2% -1% 0 +1% +2% +3% +4% +5% <% Else If Request.QueryString("inflation") = -0.05 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = -0.04 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = -0.03 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = -0.02 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = -0.01 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = -0 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = 0.05 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = 0.04 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = 0.03 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = 0.02 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if If Request.QueryString("inflation") = 0.01 Then Response.Write("-5%") Response.Write("-4%") Response.Write("-3%") Response.Write("-2%") Response.Write("-1%") Response.Write("0") Response.Write("+1%") Response.Write("+2%") Response.Write("+3%") Response.Write("+4%") Response.Write("+5%") End if End if %>		graph loading
Projected house price: <%response.write(formatcurrency(futurehouseprice))%> after allowing for <%response.write(formatpercent(inflation))%> inflation as provided in the calculator above Mortgage at year <%response.write(inflationperiod)%>: <% if mtype = 0 then response.write(formatcurrency(futuremortgage)) else response.write(formatcurrency(loan)) end if %>