London-Properties.co.uk

You will find access to a whole range of interactive calculators¹ to estimate monthly mortgage payments, stamp duty requirements and mortgage affordability.

The calculators we offer are...

Mortgage calculators - monthly vs annually calculated interest
If you have a repayment mortgage, each time you make a monthly payment, you reduce the debt you owe. But lenders that calculate interest on an annual basis give you no credit for this - in terms of the interest you're charged - until the start of the following year. So you pay interest on money you no longer owe. It's not until the end of the year that the amount of your debt is recalculated and your interest payments are adjusted to take account of this.

Launch the annually calculated interest mortgage calculator

If the interest on the loan is calculated on a monthly basis the lender will give you credit at the end of the month for any lump sum capital repayments and the monthly capital repayment element on a repayment mortgage loan. If you simply make the normal monthly payment required without overpaying, your monthly loan repayments will not decrease because the lender will have already taken into account how much capital you are likely to have repaid before setting your payment schedule.

Launch the monthly calculated interest mortgage calculator

it is important if you have a repayment mortgage to check the method your lender calculates interest on your loan.

Remember that the way a lender calculates interest is just one of many things to consider when choosing a mortgage. For more advice contact us for details of our recommended, independent Financial Advisors.

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Stamp duty calculator
Stamp duty is a tax levied on the purchase of property. When buying property, the stamp duty is calculated as a percentage of the value of the property, so the larger the property the higher the stamp duty. Properties that are valued below £60,000 are exempt and there is a ceiling of 4% of the value of any properties worth over £500,000.

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¹ The calculators are for indicative purposes only. London Properties are not licensed Mortgage Brokers or Financial Advisors and are therefore unable to dispense any financial advice. Please contact us for details of our recommended, independent Financial Advisors.

Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.