mortgage debt freedom
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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 …..
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written by TalkinPeace
3
Capital90000Interest rate4.00%Term in Years25Start 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£89,700.00Bank Profit£90,000.00Bankers Profit£45,000.00Bank Profit£60,100.00period
8
Repayment time (years)25Repayment time (years)25Repayment time (years)13Repayment time (years)3145150
9
10
Month/YearRepaidInterest CapitalBalanceRepaidInterest CapitalBalanceRepaidInterest CapitalBalanceRepaidInterest CapitalBalance
11
January 2014£90,000.00£90,000.00£90,000.00£90,000.00
12
February 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£89,700.00£900.00£300.00£600.00£89,400.00£ 475.05£300.00£1.99£89,998.011
13
March 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£89,400.00£900.00£300.00£600.00£88,800.00£ 475.05£299.99£3.99£89,994.022
14
April 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£89,100.00£900.00£300.00£600.00£88,200.00£ 475.05£299.98£5.98£89,988.043
15
May 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£88,800.00£900.00£300.00£600.00£87,600.00£ 475.05£299.96£7.97£89,980.074
16
June 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£88,500.00£900.00£300.00£600.00£87,000.00£ 475.05£299.93£9.97£89,970.105
17
July 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£88,200.00£900.00£300.00£600.00£86,400.00£ 475.05£299.90£11.96£89,958.146
18
August 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£87,900.00£900.00£300.00£600.00£85,800.00£ 475.05£299.86£13.95£89,944.197
19
September 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£87,600.00£900.00£300.00£600.00£85,200.00£ 475.05£299.81£15.95£89,928.248
20
October 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£87,300.00£900.00£300.00£600.00£84,600.00£ 475.05£299.76£17.94£89,910.309
21
November 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£87,000.00£900.00£300.00£600.00£84,000.00£ 475.05£299.70£19.93£89,890.3710
22
December 2014£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£86,700.00£900.00£300.00£600.00£83,400.00£ 475.05£299.63£21.93£89,868.4411
23
January 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£86,400.00£900.00£300.00£600.00£82,800.00£ 475.05£299.56£23.92£89,844.5212
24
February 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£86,100.00£900.00£300.00£600.00£82,200.00£ 475.05£299.48£25.91£89,818.6013
25
March 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£85,800.00£900.00£300.00£600.00£81,600.00£ 475.05£299.40£27.91£89,790.7014
26
April 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£85,500.00£900.00£300.00£600.00£81,000.00£ 475.05£299.30£29.90£89,760.8015
27
May 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£85,200.00£900.00£300.00£600.00£80,400.00£ 475.05£299.20£31.89£89,728.9016
28
June 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£84,900.00£900.00£300.00£600.00£79,800.00£ 475.05£299.10£33.89£89,695.0217
29
July 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£84,600.00£900.00£300.00£600.00£79,200.00£ 475.05£298.98£35.88£89,659.1418
30
August 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£84,300.00£900.00£300.00£600.00£78,600.00£ 475.05£298.86£37.87£89,621.2619
31
September 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£84,000.00£900.00£300.00£600.00£78,000.00£ 475.05£298.74£39.87£89,581.4020
32
October 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£83,700.00£900.00£300.00£600.00£77,400.00£ 475.05£298.60£41.86£89,539.5321
33
November 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£83,400.00£900.00£300.00£600.00£76,800.00£ 475.05£298.47£43.85£89,495.6822
34
December 2015£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£83,100.00£900.00£300.00£600.00£76,200.00£ 475.05£298.32£45.85£89,449.8323
35
January 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£82,800.00£900.00£300.00£600.00£75,600.00£ 475.05£298.17£47.84£89,401.9924
36
February 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£82,500.00£900.00£300.00£600.00£75,000.00£ 475.05£298.01£49.83£89,352.1625
37
March 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£82,200.00£900.00£300.00£600.00£74,400.00£ 475.05£297.84£51.83£89,300.3326
38
April 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£81,900.00£900.00£300.00£600.00£73,800.00£ 475.05£297.67£53.82£89,246.5127
39
May 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£81,600.00£900.00£300.00£600.00£73,200.00£ 475.05£297.49£55.81£89,190.7028
40
June 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£81,300.00£900.00£300.00£600.00£72,600.00£ 475.05£297.30£57.81£89,132.8929
41
July 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£81,000.00£900.00£300.00£600.00£72,000.00£ 475.05£297.11£59.80£89,073.0930
42
August 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£80,700.00£900.00£300.00£600.00£71,400.00£ 475.05£296.91£61.79£89,011.3031
43
September 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£80,400.00£900.00£300.00£600.00£70,800.00£ 475.05£296.70£63.79£88,947.5132
44
October 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£80,100.00£900.00£300.00£600.00£70,200.00£ 475.05£296.49£65.78£88,881.7333
45
November 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£79,800.00£900.00£300.00£600.00£69,600.00£ 475.05£296.27£67.77£88,813.9534
46
December 2016£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£79,500.00£900.00£300.00£600.00£69,000.00£ 475.05£296.05£69.77£88,744.1935
47
January 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£79,200.00£900.00£300.00£600.00£68,400.00£ 475.05£295.81£71.76£88,672.4336
48
February 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£78,900.00£900.00£300.00£600.00£67,800.00£ 475.05£295.57£73.75£88,598.6737
49
March 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£78,600.00£900.00£300.00£600.00£67,200.00£ 475.05£295.33£75.75£88,522.9238
50
April 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£78,300.00£900.00£300.00£600.00£66,600.00£ 475.05£295.08£77.74£88,445.1839
51
May 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£78,000.00£900.00£300.00£600.00£66,000.00£ 475.05£294.82£79.73£88,365.4540
52
June 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£77,700.00£900.00£300.00£600.00£65,400.00£ 475.05£294.55£81.73£88,283.7241
53
July 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£77,400.00£900.00£300.00£600.00£64,800.00£ 475.05£294.28£83.72£88,200.0042
54
August 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£77,100.00£900.00£300.00£600.00£64,200.00£ 475.05£294.00£85.71£88,114.2943
55
September 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£76,800.00£900.00£300.00£600.00£63,600.00£ 475.05£293.71£87.71£88,026.5844
56
October 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£76,500.00£900.00£300.00£600.00£63,000.00£ 475.05£293.42£89.70£87,936.8845
57
November 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£76,200.00£900.00£300.00£600.00£62,400.00£ 475.05£293.12£91.69£87,845.1846
58
December 2017£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£75,900.00£900.00£300.00£600.00£61,800.00£ 475.05£292.82£93.69£87,751.5047
59
January 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£75,600.00£900.00£300.00£600.00£61,200.00£ 475.05£292.50£95.68£87,655.8148
60
February 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£75,300.00£900.00£300.00£600.00£60,600.00£ 475.05£292.19£97.67£87,558.1449
61
March 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£75,000.00£900.00£300.00£600.00£60,000.00£ 475.05£291.86£99.67£87,458.4750
62
April 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£74,700.00£900.00£300.00£600.00£59,400.00£ 475.05£291.53£101.66£87,356.8151
63
May 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£74,400.00£900.00£300.00£600.00£58,800.00£ 475.05£291.19£103.65£87,253.1652
64
June 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£74,100.00£900.00£300.00£600.00£58,200.00£ 475.05£290.84£105.65£87,147.5153
65
July 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£73,800.00£900.00£300.00£600.00£57,600.00£ 475.05£290.49£107.64£87,039.8754
66
August 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£73,500.00£900.00£300.00£600.00£57,000.00£ 475.05£290.13£109.63£86,930.2355
67
September 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£73,200.00£900.00£300.00£600.00£56,400.00£ 475.05£289.77£111.63£86,818.6056
68
October 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£72,900.00£900.00£300.00£600.00£55,800.00£ 475.05£289.40£113.62£86,704.9857
69
November 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£72,600.00£900.00£300.00£600.00£55,200.00£ 475.05£289.02£115.61£86,589.3758
70
December 2018£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£72,300.00£900.00£300.00£600.00£54,600.00£ 475.05£288.63£117.61£86,471.7659
71
January 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£72,000.00£900.00£300.00£600.00£54,000.00£ 475.05£288.24£119.60£86,352.1660
72
February 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£71,700.00£900.00£300.00£600.00£53,400.00£ 475.05£287.84£121.59£86,230.5661
73
March 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£71,400.00£900.00£300.00£600.00£52,800.00£ 475.05£287.44£123.59£86,106.9862
74
April 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£71,100.00£900.00£300.00£600.00£52,200.00£ 475.05£287.02£125.58£85,981.4063
75
May 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£70,800.00£900.00£300.00£600.00£51,600.00£ 475.05£286.60£127.57£85,853.8264
76
June 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£70,500.00£900.00£300.00£600.00£51,000.00£ 475.05£286.18£129.57£85,724.2565
77
July 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£70,200.00£900.00£300.00£600.00£50,400.00£ 475.05£285.75£131.56£85,592.6966
78
August 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£69,900.00£900.00£300.00£600.00£49,800.00£ 475.05£285.31£133.55£85,459.1467
79
September 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£69,600.00£900.00£300.00£600.00£49,200.00£ 475.05£284.86£135.55£85,323.5968
80
October 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£69,300.00£900.00£300.00£600.00£48,600.00£ 475.05£284.41£137.54£85,186.0569
81
November 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£69,000.00£900.00£300.00£600.00£48,000.00£ 475.05£283.95£139.53£85,046.5170
82
December 2019£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£68,700.00£900.00£300.00£600.00£47,400.00£ 475.05£283.49£141.53£84,904.9871
83
January 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£68,400.00£900.00£300.00£600.00£46,800.00£ 475.05£283.02£143.52£84,761.4672
84
February 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£68,100.00£900.00£300.00£600.00£46,200.00£ 475.05£282.54£145.51£84,615.9573
85
March 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£67,800.00£900.00£300.00£600.00£45,600.00£ 475.05£282.05£147.51£84,468.4474
86
April 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£67,500.00£900.00£300.00£600.00£45,000.00£ 475.05£281.56£149.50£84,318.9475
87
May 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£67,200.00£900.00£300.00£600.00£44,400.00£ 475.05£281.06£151.50£84,167.4476
88
June 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£66,900.00£900.00£300.00£600.00£43,800.00£ 475.05£280.56£153.49£84,013.9577
89
July 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£66,600.00£900.00£300.00£600.00£43,200.00£ 475.05£280.05£155.48£83,858.4778
90
August 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£66,300.00£900.00£300.00£600.00£42,600.00£ 475.05£279.53£157.48£83,701.0079
91
September 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£66,000.00£900.00£300.00£600.00£42,000.00£ 475.05£279.00£159.47£83,541.5380
92
October 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£65,700.00£900.00£300.00£600.00£41,400.00£ 475.05£278.47£161.46£83,380.0781
93
November 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£65,400.00£900.00£300.00£600.00£40,800.00£ 475.05£277.93£163.46£83,216.6182
94
December 2020£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£65,100.00£900.00£300.00£600.00£40,200.00£ 475.05£277.39£165.45£83,051.1683
95
January 2021£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£64,800.00£900.00£300.00£600.00£39,600.00£ 475.05£276.84£167.44£82,883.7284
96
February 2021£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£64,500.00£900.00£300.00£600.00£39,000.00£ 475.05£276.28£169.44£82,714.2985
97
March 2021£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£64,200.00£900.00£300.00£600.00£38,400.00£ 475.05£275.71£171.43£82,542.8686
98
April 2021£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£63,900.00£900.00£300.00£600.00£37,800.00£ 475.05£275.14£173.42£82,369.4487
99
May 2021£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£63,600.00£900.00£300.00£600.00£37,200.00£ 475.05£274.56£175.42£82,194.0288
100
June 2021£300.00£300.00£0.00£90,000.00£600.00£300.00£300.00£63,300.00£900.00£300.00£600.00£36,600.00£ 475.05£273.98£177.41£82,016.6189
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Interest Only Mortgages