If you’re buying a house to live in or a buy-to-let and need to understand monthly mortgage costs, you can download my mortgage calculator below.
The calculator offers you insight in to your ‘Interest Only’ and ‘Repayment’ monthly payments, taking in to consideration loan-to-value rate, arrangement fee rate, interest rate and term, which are all customisable.
Hopefully this will give you better insight in to how much your mortgage will cost you and/or how changing interest rates, term, arrangement fee and LTV will affect your mortgage payments.
The calculator is completely customisable and I’ve made it easy to know where to change what by highlighting changeable cells to green.
There are various websites that help you to calculate mortgage costs on a month-to-month basis, however I didn’t find them very flexible in terms of including arrangement fees, changing loan-to-value proportions and changing interest rate levels. I also really wanted to compare and do a bit of analysis around changing rates, which this calculator helps me to understand.