Calculators

How long will it take to repay my mortgage?

It depends on a few different factors, such as:

• Your loan term
• Your repayment schedule
• Any extra contributions you make

Standard loan terms usually last around 25-30 years, but making additional payments can significantly reduce this timeline. It helps if you use our Mortgage Timeline Calculator or Lump Sum Payments Calculator to see how extra contributions may impact the repayment period. If you are considering making extra payments, just make sure you check with your lender to see if there are any fees or restrictions on early repayment.

Do I need to calculate stamp duty before buying land overseas?

Yes. Working out stamp duty before you buy land abroad is imperative because of how big an expense it usually is. Stamp duty rates, eligibility, and exemptions tend vary greatly between countries, it helps if you research the specific rules for the destination you are buying in.

Furthermore, some regions have different rules for non-residents, which can also impact the total amount. As such, it’s worth consulting local experts or legal advisors if you want a clear picture of these costs and to avoid surprises.

How does the Deposit Calculator work?

This helps you determine the deposit you’ll likely need for a specific property purchase, which is typically a percentage of the property’s value. Start by inputting the price of the property you’re considering, and the calculator will show the deposit amount required. Lender requirements may change the specific figure, but it’s usually around 5-20%.

You can also factor in any loan insurance costs if your deposit is less than 20%, so it’s a great way of seeing how close you are to reaching your deposit goal.

How does the Lump Sum Payments Calculator work?

The Lump Sum Payments Calculator shows how one-off contributions (known as lump sums) toward your mortgage can reduce both the loan term and total interest paid. When you make a lump sum payment, your principal is directly reduced. This can significantly lower the remaining balance. 

This calculator shows you how much money you can potentially save from making occasional lump sum payments. It provides insight into how even small additional contributions can lead to quicker repayment and lower interest costs over the life of the loan.

How does the Stamp Duty calculator work?

The Stamp Duty Calculator estimates what tax you’ll pay when purchasing property, which tends to vary based on the property’s value and location. Stamp duty rates are tiered in many different countries, which means you’ll pay a percentage based on the property price within each rate band.

We’d recommend this calculator if you need help understanding the additional costs of a purchase as it helps you budget more accurately. Just make sure you always check for exemptions or concessions, as these can vary by region.

How does the Mortgage Timeline Calculator work?

By providing an estimate of how long it will take to fully repay your mortgage based on your current repayment rate and any additional payments. If you experiment with extra contributions, you can also see what impact it can have on your loan term and interest savings. 

This can be an invaluable tool for planning – especially if you’re aiming to pay off your mortgage sooner or want to see the impact making extra payments would make.

How does the Repayment Calculator work?

The Repayment Calculator gives you an idea of how much your monthly mortgage payments will be. It’s based on the following:

• Your loan amount
• Your interest rate
• Your loan term

You can see how payments might change by adjusting these inputs. For instance, selecting a longer loan term reduces the monthly amount but increases the total interest paid. On the other hand, shorter terms may mean higher monthly repayments but less interest overall. Make sure you use this tool if you need help budgeting mortgage payments!

How does the Borrowing Power Calculator work?

The Borrowing Power Calculator estimates how much you’re able to borrow based on your financial situation. It does this by factoring in the following:

• Income
• Expenses
• Existing debts

By calculating your monthly disposable income and applying a buffer for interest rate changes, this calculator gives a general idea of how much a lender might approve. However, it’s crucial to remember that this estimate doesn’t guarantee approval, as lenders may have additional requirements.

How does the Mortgage Calculator work?

The Mortgage Calculator works by taking details such as your loan amount, interest rate, loan term, and any additional repayments into account. It then calculates your monthly payment accordingly. It essentially divides your loan into equal monthly payments across the loan term, which includes both principal and interest.

Some calculators also allow for extra contributions, which can reduce the total interest you pay. This tool can be excellent for giving you a rough idea of your budget before fully committing. Just keep in mind that these tools are estimates and shouldn’t be viewed as the true amount.

Can I calculate my mortgage online?

Absolutely. These allow you to input the relevant details (loan amount, interest rates, and loan terms) to get an estimate of your monthly repayments. You can even adjust variables to explore different scenarios, which helps you see the impact of changes in the following:

• Interest rates
• Loan terms
• Down payments

These tools are helpful for planning, but keep in mind that they’re ultimately estimates. For more precise details, it’s best to consult a mortgage advisor.