True-Cost-Mortgages

Calculating your annual mortgage costs only?
Big mistake!

You have planned your dream-home and your financier has demonstrated to you an annuity for a mortgage you think you can afford. Your financial advisor considers your personal finances based on present circumstances and gives you a figure , your minimum mortgage. He believes you can afford the repayment schedule.

However your plan may be flawed. Nowadays you would be wise to consider projected energy costs alongside your annuity . What is the point of living in your dream home if you are under the constant threat of fuel poverty?

Moreover why not future proof yourself and your home against soaring energy costs by taking out a comfort mortgage.

A comfort mortgage means you have an initial investment incorporated into your mortgage to cover the cost of introducing energy efficient improvements into the fabric of the building. Improvements such as super insulating the shell, Mechanical Ventilation Heat Recovery,Solar Panels and renewable energy sources are all measures guaranteed to assure your future comfort.

It is recommended that you consider the annuity of your mortgage combined with prospective energy costs to decide if you really can afford the initial investment for energy efficiency or indeed if you can afford NOT to invest in it!

What is the true-cost-mortgage? Compare the examples by filling in your own figures

Please fill in your own figures

minimum-mortgage
amount with no upgrades included annual energy-costs for house with minimum-standard
£ £ p.a.
comfort mortgage
amount with energy upgrades included estimated saving on energy costs
£ %
interest rate estimated rate of inflation for energy
% p.a. % p.a.
Initial repayment rate
% p.a.
The annuity for your comfort home in the first year is only £350 higher.
On a monthly base: £29.17
In year 9 your monthly rate starts to drop

Your savings for the comfort-house: 47,357.59£

Your payments during this termfor the minimum-housefor the comfort-home
interest164,426.27180,868.90
energy255,200.88191,400.66
Sum419,627.15372,269.56

The term of this mortgage is 34 years

Decimal places are omitted in favour of compactness

YearMinimum-mortgageComfort-mortgageMinimum-mortgageComfort-mortgageSavings /
Expenses
debtinterestrepaymentdebtinterestrepaymentenergy-costannuityenergy-costannuity
1200,0008,0003,000220,0008,8003,3003,00014,0002,25014,350350
2197,0007,8803,120216,7008,6683,4323,15014,1502,36314,463313
3193,8807,7553,245213,2688,5313,5693,30814,3082,48114,581273
4190,6357,6253,375209,6998,3883,7123,47314,4732,60514,705232
5187,2617,4903,510205,9878,2393,8613,64714,6472,73514,835188
6183,7517,3503,650202,1268,0854,0153,82914,8292,87214,972143
7180,1017,2043,796198,1117,9244,1764,02015,0203,01515,11595
8176,3057,0523,948193,9367,7574,3434,22115,2213,16615,26645
9172,3576,8944,106189,5937,5844,5164,43215,4323,32415,4248
10168,2526,7304,270185,0777,4034,6974,65415,6543,49015,59063
11163,9826,5594,441180,3807,2154,8854,88715,8873,66515,765122
12159,5416,3824,618175,4957,0205,0805,13116,1313,84815,948183
13154,9236,1974,803170,4156,8175,2835,38816,3884,04116,141247
14150,1196,0054,995165,1316,6055,4955,65716,6574,24316,343314
15145,1245,8055,195159,6376,3855,7155,94016,9404,45516,555385
16139,9295,5975,403153,9226,1575,9436,23717,2374,67816,778459
17134,5265,3815,619147,9795,9196,1816,54917,5494,91117,011537
18128,9075,1565,844141,7985,6726,4286,87617,8765,15717,257619
19123,0644,9236,077135,3705,4156,6857,22018,2205,41517,515705
20116,9864,6796,321128,6855,1476,9537,58118,5815,68617,786795
21110,6664,4276,573121,7324,8697,2317,96018,9605,97018,070890
22104,0924,1646,836114,5024,5807,5208,35819,3586,26818,368989
2397,2563,8907,110106,9824,2797,8218,77619,7766,58218,6821,094
2490,1463,6067,39499,1613,9668,1349,21520,2156,91119,0111,204
2582,7523,3107,69091,0273,6418,4599,67520,6757,25619,3561,319
2675,0623,0027,99882,5693,3038,79710,15921,1597,61919,7191,440
2767,0652,6838,31773,7712,9519,14910,66721,6678,00020,1001,567
2858,7472,3508,65064,6222,5859,51511,20022,2008,40020,5001,700
2950,0972,0048,99655,1072,2049,89611,76022,7608,82020,9201,840
3041,1011,6449,35645,2111,80810,29212,34823,3489,26121,3611,987
3131,7451,2709,73034,9201,39710,70312,96623,9669,72421,8242,141
3222,01588110,11924,21696911,13113,61424,61410,21122,3112,304
3311,89647610,52413,08552311,57714,29525,29510,72122,8212,474
341,371551,3711,509601,50915,01016,43611,25712,8263,610