Moneyextra.com unveils new mortgage calculators

Millions of homeowners face a nasty shock over the summer months as their fixed rate mortgage deals come to an end. The Bank of England’s base rate now stands at a new six-year high of 5.75% with talk of more interest rate rises to come.

Online independent financial adviser Moneyextra.com has unveiled a suite of simple-to-use mortgage calculators (moneyextra.com/mortgages/calculators) allowing homeowners and homebuyers to see at a glance the impact of their mortgage choices on their pockets.

Five new mortgage calculators show how much you could borrow; how much you could afford to borrow over different lengths of time; what your repayments would be; what would happen to your payments if interest rates change; and what the impact of overpaying your mortgage would be:

How much could I borrow?
What will my repayments be?
What if interest rates change?
How much could I afford to borrow?
Overpaying your mortgage

Moneyextra's free calculators help mortgage borrowers to decide their mortgage options. Together with a mortgage comparison tool that offers more than 10,000 different mortgages from 126 providers, Moneyextra’s calculators allow site users to find the right mortgage solution for them.

Robin Amlôt of Moneyextra.com comments, “Unlike some price comparison websites we don’t pass information on to third parties. Moneyextra’s own team of expert mortgage advisers offers completely impartial regulated advice.

“Anybody looking for a mortgage is assigned their own named mortgage adviser who’ll look after them all the way through the mortgage process.

“And the service doesn’t end there. We’ll keep an eye on the mortgage and remind people in good time when any introductory rate is about to end so they can check their mortgage is still competitive – if it isn’t we’ll help them find one that is!”