The Finance Calculators 100.
Rates & Costs
Focus: Fees, interest rates, and the total cost of borrowing.
Is the calculator suitable for both individual and joint applications?
Can I add custom expense categories to the budget planner?
How are credit repayments factored into the budget?
Does the calculator account for interest on existing loans or credit cards?
Does the calculator show an amortisation schedule for my mortgage?
How does the calculator handle changes in interest rates after the fixed period ends?
How does the calculator calculate the impact of overpayments on the total interest paid?
How is the total additional borrowing calculated in the debt consolidation calculator?
Does the calculator show the difference between consolidated and existing repayments?
What assumptions are made for the consolidated loan’s interest rate and repayment term?
How are arrears or missed payments treated in the consolidation calculator?
Does the calculator show the total interest cost of the consolidated loan?
How does the calculator handle overpayments during the fixed-rate period?
Can I input varying interest rates for fixed and variable periods?
Can I include additional income sources like bonuses or rental income?
Can I adjust the term of the consolidated loan to see the impact on repayments?
How does the calculator compare my income to the loan amount?
Can I add non-debt expenses like utility bills to the consolidation calculator?
Does the calculator show the impact of overpayments on monthly repayments?
How does the table change if I adjust the loan term or interest rate?
Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.
More than 50% of borrowers receive offers better than our representative examples
The %APR rate you will be offered is dependent on your personal circumstances.
Mortgages and Remortgages
Representative example
Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66
Secured / Second Charge Loans
Representative example
Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20
Unsecured Loans
Representative example
Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG
Authorised and regulated by the Financial Conduct Authority – Number 681423The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages
Website www.promisemoney.co.uk