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Wednesday July 27

Online Mortgage Calculator...

Online Mortgage Calculator

Our online mortgage calculator makes comparing mortgage rates online simply. If you know the type of mortgage you require simply enter the type the loan required the property value and the term of the mortgage and see how much you can save with our new online mortgage calculator today.

 

Mortgage Repayment Calculator

Comparing mortgage rates on the internet has never been simpler. If you know the type of mortgage you require simply enter the type the loan required the property value and the term of the mortgage and see how much you can save today.

You can obtain as many free instant mortgage quotes as you like to find the best rate to suite your needs, and our mortgage calculator is update twice a day for the most up to date mortgage rates on the web.

Alternatively If you are not certain which mortgage rate you require please call one of our qualified mortgage advisers for advice on 0845 262 2226.

Types of Mortgage

There are many types of mortgage available in the market if you are unsure which type of mortgage you require we also offer independent financial advice through one of our partners. Below is a brief overview of the types of mortgage rates you can calculate with Online Mortgage Calculator .org.uk,

Variable Rate

A variable rate mortgage is linked to the mortgage lenders standard variable rate. This rate is normally around 1.5% - 3.5% more than the Bank of England’s base rate – however a variable rate mortgage does not necessarily go up and down in line with the Bank of England’s base rate. 

Tracker Rate

A tracker rate mortgage is a mortgage that is linked to the Bank of England’s base rate at a set differential. This means that the repayments for a tracker rate mortgage can go up and down each month in line with the BOE base rate.

Libor Rate

A Libor mortgage like many other mortgages tracks a rate, however unlike the vast majority of mortgages it does not track the Bank of England’s base rate, it tracks the London Inter Bank Offered Rate. This can be quite a volatile rate, and over the last twelve months although the BOE has not change their base rate we have seen large monthly changes in the LIBOR rates.

Fixed Rates

A fixed rate mortgage offers a guaranteed interest rate for a set period, typically between two and five years. The fixed rate does not change as the standard variable rate changes and at the end of the fixed term you will revert to the mortgage lenders standard variable rate.

Discounted Rates

A discounted rate mortgage is base on the mortgage lenders variable rate and a discount on this is applied for set period by the lender. The discount period is normally for a set period of time which is usually 2 years but can be longer. During the discounted period repayments can move up and down with the lenders standard variable rate.

Capped Rates

A capped rate mortgage is has a maximum interest rate changed during the capped rate period, known as the cap. If the mortgage lenders variable rate falls the repayments will fall if the variable rate rises the rate you are charged will not rise above the cap.

Offset Mortgage

An offset mortgage allows you to have all your money in one place, including your mortgage, savings, current account and loans. Each day the lender will calculate the interest you owe based on the debt you have minus the credit you have in any savings and current account balances you have.

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UK Online Mortgage Calculator from Online Mortgage Calculator .org.uk