
Mortgage 2000 Payment Examples
Example 1
A borrower has a £55,000 repayment loan for 25 years.
He takes out his Mortgage at a rate of 6.99%.
His monthly payments are £392.94
His Mortgage Save 2000 payment would be £39.24
Result: Mortgage repaid in - 20 years 8 months
Interest savings - £12,025.26
Example 2
A borrower has a £65,000 interest only mortgage for 25 years
She takes out her mortgage at a rate of 7.25%
Her monthly payments are £392.71
Her paymeny to Mortgage Save 2000 would be £39.22
Result: Mortgage reduced by - £24,748.15
Interest savings - £15,636.45
Example 3
A borrower has a £95,000 repayment loan for 25 years.
He takes out a mortgage at a rate of 6.85%
His monthly payments are £670.17
His Mortgage Save 2000 payment is £62.35 per month
The clients' budget however, enables him to make a monthly
payment to Mortgage Save 2000 in the sum of £120.00 per month
Result: Mortgage repaid in - 17 years 10 months
Interest savings - £33.639.75