Mortgage Calculators
Repayment Calculator
This calculator takes a loan amount (derived from the purchase
price and deposit) and calculates the monthly repayments
over a set term or the whole life of the mortgage. It also
allows you to caculate the overall APR for the loan and
the Internal Rate of Return for the assumed life of the
mortgage.
Both the Internal Rate of Return and the Annual Percentage
Rate give an annual interest rate which accurately reflects
every payment made on the loan, including fees and costs.
The main difference between APR and the Internal Rate of
Return, is that APR is always measured over the full life
of a loan term, whereas the Internal Rate of Return allows
you to compare the products over any length of time. This
is more suitable when you consider that the average life
of a mortgage is only 6 or 7 years.
