How Much Will My £51,000 Mortgage Be In 5 Years Time?
Question by Steve W | Posted in Renting & Real Estate
I am a first spell buyer buying a flat at £67,500, borrowing £51,000 with a 5 year resolute rate deal at 4.89% over 30 years with constantly interest. The mortgage payment is £280 a month. Assume I don't make any overpayments as these will be fixed
Answer: My keyboard does not have a work over symbol, so I'll use dollars:
Your principal balance after 5 years will be about $46,000.
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