mortgage debt freedom
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1
Interest Only MortgageEnter your mortgage details into the highlighted boxes and watch what effect different repayment approaches will have : for you and your bank. Money you do not pay to them in interest is yours. Remember an Interest Only mortgage never repays your loan. You need to be finding those capital amounts each and every month from somewhere else …..
2
written by TalkinPeace
3
Capital68000Interest rate2.75%Term in Years11Start date1/5/2014
4
5
6
Paying interest onlyCapital needed to repay within termCapital needed to repay in half of termRepayment Mortgagesum
7
Bank Profit£20,414.17Bank Profit£20,725.83Bankers Profit£10,285.00Bank Profit£13,765.28period
8
Repayment time (years)11Repayment time (years)11Repayment time (years)6Repayment time (years)118778
9
10
Month/YearRepaidInterest CapitalBalanceRepaidInterest CapitalBalanceRepaidInterest CapitalBalanceRepaidInterest CapitalBalance
11
January 2014£68,000.00£68,000.00£68,000.00£68,000.00
12
February 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£67,484.85£1,186.14£155.83£1,030.30£66,969.70£ 597.58£155.83£7.75£67,992.251
13
March 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£66,969.70£1,186.14£155.83£1,030.30£65,939.39£ 597.58£155.82£15.49£67,976.762
14
April 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£66,454.55£1,186.14£155.83£1,030.30£64,909.09£ 597.58£155.78£23.24£67,953.523
15
May 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£65,939.39£1,186.14£155.83£1,030.30£63,878.79£ 597.58£155.73£30.99£67,922.534
16
June 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£65,424.24£1,186.14£155.83£1,030.30£62,848.48£ 597.58£155.66£38.73£67,883.805
17
July 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£64,909.09£1,186.14£155.83£1,030.30£61,818.18£ 597.58£155.57£46.48£67,837.326
18
August 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£64,393.94£1,186.14£155.83£1,030.30£60,787.88£ 597.58£155.46£54.23£67,783.097
19
September 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£63,878.79£1,186.14£155.83£1,030.30£59,757.58£ 597.58£155.34£61.97£67,721.128
20
October 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£63,363.64£1,186.14£155.83£1,030.30£58,727.27£ 597.58£155.19£69.72£67,651.409
21
November 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£62,848.48£1,186.14£155.83£1,030.30£57,696.97£ 597.58£155.03£77.47£67,573.9310
22
December 2014£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£62,333.33£1,186.14£155.83£1,030.30£56,666.67£ 597.58£154.86£85.21£67,488.7211
23
January 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£61,818.18£1,186.14£155.83£1,030.30£55,636.36£ 597.58£154.66£92.96£67,395.7612
24
February 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£61,303.03£1,186.14£155.83£1,030.30£54,606.06£ 597.58£154.45£100.71£67,295.0613
25
March 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£60,787.88£1,186.14£155.83£1,030.30£53,575.76£ 597.58£154.22£108.45£67,186.6014
26
April 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£60,272.73£1,186.14£155.83£1,030.30£52,545.45£ 597.58£153.97£116.20£67,070.4015
27
May 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£59,757.58£1,186.14£155.83£1,030.30£51,515.15£ 597.58£153.70£123.95£66,946.4616
28
June 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£59,242.42£1,186.14£155.83£1,030.30£50,484.85£ 597.58£153.42£131.69£66,814.7617
29
July 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£58,727.27£1,186.14£155.83£1,030.30£49,454.55£ 597.58£153.12£139.44£66,675.3218
30
August 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£58,212.12£1,186.14£155.83£1,030.30£48,424.24£ 597.58£152.80£147.19£66,528.1419
31
September 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£57,696.97£1,186.14£155.83£1,030.30£47,393.94£ 597.58£152.46£154.93£66,373.2120
32
October 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£57,181.82£1,186.14£155.83£1,030.30£46,363.64£ 597.58£152.11£162.68£66,210.5321
33
November 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£56,666.67£1,186.14£155.83£1,030.30£45,333.33£ 597.58£151.73£170.43£66,040.1022
34
December 2015£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£56,151.52£1,186.14£155.83£1,030.30£44,303.03£ 597.58£151.34£178.17£65,861.9323
35
January 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£55,636.36£1,186.14£155.83£1,030.30£43,272.73£ 597.58£150.93£185.92£65,676.0124
36
February 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£55,121.21£1,186.14£155.83£1,030.30£42,242.42£ 597.58£150.51£193.67£65,482.3425
37
March 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£54,606.06£1,186.14£155.83£1,030.30£41,212.12£ 597.58£150.06£201.41£65,280.9326
38
April 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£54,090.91£1,186.14£155.83£1,030.30£40,181.82£ 597.58£149.60£209.16£65,071.7727
39
May 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£53,575.76£1,186.14£155.83£1,030.30£39,151.52£ 597.58£149.12£216.91£64,854.8628
40
June 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£53,060.61£1,186.14£155.83£1,030.30£38,121.21£ 597.58£148.63£224.65£64,630.2129
41
July 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£52,545.45£1,186.14£155.83£1,030.30£37,090.91£ 597.58£148.11£232.40£64,397.8130
42
August 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£52,030.30£1,186.14£155.83£1,030.30£36,060.61£ 597.58£147.58£240.15£64,157.6731
43
September 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£51,515.15£1,186.14£155.83£1,030.30£35,030.30£ 597.58£147.03£247.89£63,909.7732
44
October 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£51,000.00£1,186.14£155.83£1,030.30£34,000.00£ 597.58£146.46£255.64£63,654.1433
45
November 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£50,484.85£1,186.14£155.83£1,030.30£32,969.70£ 597.58£145.87£263.39£63,390.7534
46
December 2016£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£49,969.70£1,186.14£155.83£1,030.30£31,939.39£ 597.58£145.27£271.13£63,119.6235
47
January 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£49,454.55£1,186.14£155.83£1,030.30£30,909.09£ 597.58£144.65£278.88£62,840.7436
48
February 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£48,939.39£1,186.14£155.83£1,030.30£29,878.79£ 597.58£144.01£286.63£62,554.1137
49
March 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£48,424.24£1,186.14£155.83£1,030.30£28,848.48£ 597.58£143.35£294.37£62,259.7438
50
April 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£47,909.09£1,186.14£155.83£1,030.30£27,818.18£ 597.58£142.68£302.12£61,957.6239
51
May 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£47,393.94£1,186.14£155.83£1,030.30£26,787.88£ 597.58£141.99£309.87£61,647.7640
52
June 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£46,878.79£1,186.14£155.83£1,030.30£25,757.58£ 597.58£141.28£317.61£61,330.1441
53
July 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£46,363.64£1,186.14£155.83£1,030.30£24,727.27£ 597.58£140.55£325.36£61,004.7842
54
August 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£45,848.48£1,186.14£155.83£1,030.30£23,696.97£ 597.58£139.80£333.11£60,671.6843
55
September 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£45,333.33£1,186.14£155.83£1,030.30£22,666.67£ 597.58£139.04£340.85£60,330.8344
56
October 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£44,818.18£1,186.14£155.83£1,030.30£21,636.36£ 597.58£138.26£348.60£59,982.2345
57
November 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£44,303.03£1,186.14£155.83£1,030.30£20,606.06£ 597.58£137.46£356.35£59,625.8846
58
December 2017£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£43,787.88£1,186.14£155.83£1,030.30£19,575.76£ 597.58£136.64£364.09£59,261.7947
59
January 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£43,272.73£1,186.14£155.83£1,030.30£18,545.45£ 597.58£135.81£371.84£58,889.9548
60
February 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£42,757.58£1,186.14£155.83£1,030.30£17,515.15£ 597.58£134.96£379.59£58,510.3749
61
March 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£42,242.42£1,186.14£155.83£1,030.30£16,484.85£ 597.58£134.09£387.33£58,123.0350
62
April 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£41,727.27£1,186.14£155.83£1,030.30£15,454.55£ 597.58£133.20£395.08£57,727.9651
63
May 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£41,212.12£1,186.14£155.83£1,030.30£14,424.24£ 597.58£132.29£402.83£57,325.1352
64
June 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£40,696.97£1,186.14£155.83£1,030.30£13,393.94£ 597.58£131.37£410.57£56,914.5653
65
July 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£40,181.82£1,186.14£155.83£1,030.30£12,363.64£ 597.58£130.43£418.32£56,496.2454
66
August 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£39,666.67£1,186.14£155.83£1,030.30£11,333.33£ 597.58£129.47£426.07£56,070.1855
67
September 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£39,151.52£1,186.14£155.83£1,030.30£10,303.03£ 597.58£128.49£433.81£55,636.3656
68
October 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£38,636.36£1,186.14£155.83£1,030.30£9,272.73£ 597.58£127.50£441.56£55,194.8157
69
November 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£38,121.21£1,186.14£155.83£1,030.30£8,242.42£ 597.58£126.49£449.31£54,745.5058
70
December 2018£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£37,606.06£1,186.14£155.83£1,030.30£7,212.12£ 597.58£125.46£457.05£54,288.4559
71
January 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£37,090.91£1,186.14£155.83£1,030.30£6,181.82£ 597.58£124.41£464.80£53,823.6560
72
February 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£36,575.76£1,186.14£155.83£1,030.30£5,151.52£ 597.58£123.35£472.54£53,351.1161
73
March 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£36,060.61£1,186.14£155.83£1,030.30£4,121.21£ 597.58£122.26£480.29£52,870.8162
74
April 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£35,545.45£1,186.14£155.83£1,030.30£3,090.91£ 597.58£121.16£488.04£52,382.7863
75
May 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£35,030.30£1,186.14£155.83£1,030.30£2,060.61£ 597.58£120.04£495.78£51,886.9964
76
June 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£34,515.15£1,186.14£155.83£1,030.30£1,030.30£ 597.58£118.91£503.53£51,383.4665
77
July 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£34,000.00£1,186.14£155.83£1,030.30-£0.00£ 597.58£117.75£511.28£50,872.1866
78
August 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£33,484.85£0.00£0.00£0.00-£0.00£ 597.58£116.58£519.02£50,353.1667
79
September 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£32,969.70£0.00£0.00£0.00-£0.00£ 597.58£115.39£526.77£49,826.3868
80
October 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£32,454.55£0.00£0.00£0.00-£0.00£ 597.58£114.19£534.52£49,291.8769
81
November 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£31,939.39£0.00£0.00£0.00-£0.00£ 597.58£112.96£542.26£48,749.6070
82
December 2019£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£31,424.24£0.00£0.00£0.00-£0.00£ 597.58£111.72£550.01£48,199.5971
83
January 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£30,909.09£0.00£0.00£0.00-£0.00£ 597.58£110.46£557.76£47,641.8372
84
February 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£30,393.94£0.00£0.00£0.00-£0.00£ 597.58£109.18£565.50£47,076.3373
85
March 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£29,878.79£0.00£0.00£0.00-£0.00£ 597.58£107.88£573.25£46,503.0874
86
April 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£29,363.64£0.00£0.00£0.00-£0.00£ 597.58£106.57£581.00£45,922.0875
87
May 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£28,848.48£0.00£0.00£0.00-£0.00£ 597.58£105.24£588.74£45,333.3376
88
June 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£28,333.33£0.00£0.00£0.00-£0.00£ 597.58£103.89£596.49£44,736.8477
89
July 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£27,818.18£0.00£0.00£0.00-£0.00£ 597.58£102.52£604.24£44,132.6078
90
August 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£27,303.03£0.00£0.00£0.00-£0.00£ 597.58£101.14£611.98£43,520.6279
91
September 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£26,787.88£0.00£0.00£0.00-£0.00£ 597.58£99.73£619.73£42,900.8980
92
October 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£26,272.73£0.00£0.00£0.00-£0.00£ 597.58£98.31£627.48£42,273.4181
93
November 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£25,757.58£0.00£0.00£0.00-£0.00£ 597.58£96.88£635.22£41,638.1982
94
December 2020£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£25,242.42£0.00£0.00£0.00-£0.00£ 597.58£95.42£642.97£40,995.2283
95
January 2021£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£24,727.27£0.00£0.00£0.00-£0.00£ 597.58£93.95£650.72£40,344.5084
96
February 2021£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£24,212.12£0.00£0.00£0.00-£0.00£ 597.58£92.46£658.46£39,686.0385
97
March 2021£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£23,696.97£0.00£0.00£0.00-£0.00£ 597.58£90.95£666.21£39,019.8286
98
April 2021£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£23,181.82£0.00£0.00£0.00-£0.00£ 597.58£89.42£673.96£38,345.8687
99
May 2021£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£22,666.67£0.00£0.00£0.00-£0.00£ 597.58£87.88£681.70£37,664.1688
100
June 2021£155.83£155.83£0.00£68,000.00£670.98£155.83£515.15£22,151.52£0.00£0.00£0.00-£0.00£ 597.58£86.31£689.45£36,974.7189
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Interest Only Mortgages