Equal-payment loans
With an annuity schedule, the basic payment stays level while the rate is unchanged. Early payments contain more interest; later payments repay more principal.
▦ Loan details
£
£10,000£1,000,000Enter the nominal annual borrowing rate used to calculate interest. For a tracker mortgage, use the current benchmark rate plus the lender margin.
%
0 %20 %Sources: Bank of England interest-rate statisticsBank Rate history
years
1 years40 yearsApplied to principal to shorten the term.
£ / month
↘ Your repayment plan
Monthly payment–Assuming the interest rate stays unchanged
Total repaid–
Interest paid–
Loan term–
Estimated end date–
✓Benefit of overpayments
Term reduced by–
Interest saved–
Illustrative calculation assuming an unchanged interest rate. Arrangement, account, insurance and other charges are not included. Check any early repayment charge in your agreement.
LOAN BALANCE
How the outstanding balance falls
Original scheduleLoan balance
Starting balance–
Balance halfway through–
Loan repaid–
REPAYMENT SCHEDULE
Detailed repayment schedule
| Month | Payment | Interest | Principal repaid | Overpayment | Balance |
|---|