calculating morgages

[rocket]

How do you calculate a morgage.

I want to know how to clauclate buy to let morgages.

i.e. if the loan is say 100k for example and the interst is 4.5% over 25 years lets say. how much becomes interest and what is the monthly payment.

sorry in advance if this has been raisied a thousand times before or im being slow!

cheers

[Jonboy]

Interest only is easy:

mortgage amount * interest rate = annual interest

/ 12 months = the monthly payment

for repayment i would advise seaarching the net for a 'mortgage calculator'

i found one at the BBC (http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml), but their are better ones around.

this is the actual formula (http://www.company-wizard.co.uk/compound-interest.htm)if you want the maths for a repayment! :confused: