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Simply enter the amount you wish to borrow, the term over which you intend to pay it off and the interest rate. Then click the 'compute' button. This will give you Equal Monthly Payments and tells you how much of it are you paying towards the interest only.
Anyone opting for an interest-only mortgage, such as linked to an endowment, PEP or pension savings policy, will need to add the cost of the monthly premiums of the policy to the interest figure above. On maturity the savings policy is intended to pay off the capital loan.
These figures are only a guide. We recommend that you obtain exact figures from a specific lender before committing to any mortgage. This calculator requires a javascript enabled browser.
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