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Hi all.
Please tell me if I have worked this out correctly or not lol
I have /will save (for ease of math) 7 years on my mortgage.
7 x 12 = 84 months.
So I have saved my self 84 payments of £1050 (this is my total over payment.)
I have saved over the life of the mortgage
£88200.
Or is it
So I have saved my self 84 payments of £788 (this is my actual payment)
£66192
Or am I doing it all wrong.
I have not taken into account interest, only monthly payments. Out of 'interest'
I am paying 2.19%, really not sure how I work out what I will save in interest lol.
Thanks in advance.
Please tell me if I have worked this out correctly or not lol
I have /will save (for ease of math) 7 years on my mortgage.
7 x 12 = 84 months.
So I have saved my self 84 payments of £1050 (this is my total over payment.)
I have saved over the life of the mortgage
£88200.
Or is it
So I have saved my self 84 payments of £788 (this is my actual payment)
£66192
Or am I doing it all wrong.
I have not taken into account interest, only monthly payments. Out of 'interest'
I am paying 2.19%, really not sure how I work out what I will save in interest lol.Thanks in advance.
