This interest only mortgage calculator helps you work out what your standard repayments during and after an interest-only period will be based on your loan amount. Repayments frequency can be changed to monthly, fortnightly or weekly. Calculate both Principal and Interest repayments for a loan term.
Conclusion: It does not take into account any possible up-front fees. Only Ongoing fees are used not Upfront or End of loan fees (i.e. discharge costs) Interest rate does not change over the loan term. Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.