silly mortgage question

[davey68]

Hi, ok silly question but if i have 20 years to pay off a mortgage at £400/mth and me and
girlfriend upped payments to £900/mth (max i think i can put in per mth) how long would it take to pay off? just something im thinking of...
cheers

[leosayer]

I assume the mortgage is for around £60,000???

You should be able to pay it off in 7 years if you bump up the payments as described.

[Alistair H.]

Go on the egg website and look in the mortgage section. They have a mortgage calculator where you can play to your hearts delight trying every single different payment strategy. It then tells you the duration of the remaining mortgage and how much you save.

P.S. Shouldnt this be in P&P?

>> Edited by Alistair H. on Wednesday 5th April 12:51

[davey68]

No fooling you guys lol yeah its for just under 60k. Cheers for the feedback. Hmm 7 years sounds very tempting if we can manage (and still fund my car addiction lol)
cheers

[aceparts_com]

www.jeacle.ie/mortgage/

Nice and easy to use