New Posts For Thread: This is only for clever people on this site - Now here goeshttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goesIf I buy a flat for £150,000 and I pay £1000 a month (approx 6.2% interest rate) for the first 10 years, how much of the mortgage would I have outstanding?Is there a site I can use to calculate this scenario?For once chisel is right about something. Buying a house is the right way to proceed and getting it for the right price is essential.Now all you need to do is get someone to sell you one at around 30% off its current value because barring high levelshttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965958#425965958For once chisel is right about something. Buying a house is the right way to proceed and getting it for the right price is essential.Now all you need to do is get someone to sell you one at around 30% off its current value because barring high levelsTue, 16 Feb 2010 16:12:07 -0600InspironI am confused as to your post. Are you borowing money from a source other than a mortgage lender? THere is not a mention of a how much flat is and what deposit you have. You woud not pay anywhere near 6.2% if you had a decent deposit.As for thttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965954#425965954InspironI am confused as to your post. Are you borowing money from a source other than a mortgage lender? THere is not a mention of a how much flat is and what deposit you have. You woud not pay anywhere near 6.2% if you had a decent deposit.As for tTue, 16 Feb 2010 02:26:50 -0600Should be £110,035, as above is for 5 years. pretty close to madasahatter.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965950#425965950Should be £110,035, as above is for 5 years. pretty close to madasahatter.Mon, 15 Feb 2010 16:55:01 -0600Just do it in excel. In this scenario, are you buying it with a 100% mortgage, as this isn't mentioned?Assuming you are:Monthly interest is (1.062^(1/12)-1)*100=0.502541214%Initially about £750 goes toward interest and the remaining £250 toward rephttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965946#425965946Just do it in excel. In this scenario, are you buying it with a 100% mortgage, as this isn't mentioned?Assuming you are:Monthly interest is (1.062^(1/12)-1)*100=0.502541214%Initially about £750 goes toward interest and the remaining £250 toward repMon, 15 Feb 2010 16:52:46 -0600or a leasehold flat.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965938#425965938or a leasehold flat.Sun, 14 Feb 2010 18:20:09 -0600large mortgage = free ride to poorhouseplease dont have a large mortgagehttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965934#425965934large mortgage = free ride to poorhouseplease dont have a large mortgageSun, 14 Feb 2010 15:34:19 -0600Note I used a real rate of 6.2% and repayments of £996.49 per month.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965930#425965930Note I used a real rate of 6.2% and repayments of £996.49 per month.Sun, 14 Feb 2010 14:08:23 -0600After the completion of 10 years you would owe £114,634 assuming the interest is added annually and it is a 25 year repayment mortgage.You wold have paid £119,580 to your lender and you would have knocked £35,366 off the debt.https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965926#425965926After the completion of 10 years you would owe £114,634 assuming the interest is added annually and it is a 25 year repayment mortgage.You wold have paid £119,580 to your lender and you would have knocked £35,366 off the debt.Sun, 14 Feb 2010 14:06:02 -0600Somewhere about 145k I would guesshttps://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965922#425965922Somewhere about 145k I would guessSun, 14 Feb 2010 12:21:19 -0600If I buy a flat for £150,000 and I pay £1000 a month (approx 6.2% interest rate) for the first 10 years, how much of the mortgage would I have outstanding?Is there a site I can use to calculate this scenario?https://community.betfair.com/tradefair__financials/go/thread/view/94198/23726118/this-is-only-for-clever-people-on-this-site---now-here-goes?post_id=425965918#425965918If I buy a flat for £150,000 and I pay £1000 a month (approx 6.2% interest rate) for the first 10 years, how much of the mortgage would I have outstanding?Is there a site I can use to calculate this scenario?Sun, 14 Feb 2010 11:15:01 -0600