- quote -

Check out: http://www.hughchou.org for dozens of financial calculators,
including one that runs the numbers for mortgage prepayments. The
calculator you want is entitled "Pay Off or Keep a Loan?"

In article <999e7709.0501290515.1efcf4e8[at]posting.google.com> ,
sp1325sp[at]yahoo.co.uk (Steve) wrote:

- quote -

I have mortgage calculation spreadsheets on my web site
under the "12 Easy Steps" section. These spreadsheet
can handle the scenario where you pay extra each month,
including paying different amounts on different months.
Help yourself to them.

-john-

--
================================================== ====================
John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
================================================== ====================

Hi,

Could someone please help me find a calculator on the web to help me
understand what are the best option about paying back my mortgage
and/or paying money in my saving accounts?

I still have 35,000 pounds to pay on my mortgage, paying 468 pounds
per month for the next 105 months.

I could afford to pay an extra 200 pounds per month to pay back my
mortgage. In fact this 200 pounds is what me and my wife put in our
ISAs every month. Would it make sense to divert this 200 quid to
paying back my mortgage? The Building Society said with that extra 200
pounds, I would have only 66 months left to back back my mortgage.

I would also like to know what would happen if I pay a little more
than an extra 200 pounds (e.g. 300). The only calculators I can see on
the web calculate mortgage stuuf or savings stuff, never both
together. The final answer I would like is how much money will I have
in 105 months time if i) I do not change anything (468 to my mortgage
and 200 to ISAs every month) ii) I give 668 pounds per month to back
back my mortgage, and iii) I give 768 pounds per month for my
mortgage.

Thanks in advance

Steve - confused