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Just plug numbers into an online calculator and see what comes out. Won't be 100% accurate but should give you a feel.
aggi-
Cheers. I've tried with this one and am getting a rough sense. Hadn't considered the bearing of interest rate, so will need to see what sort of low fixed rate offers are available.
https://www.nationwide.co.uk/products/mortgages/our-mortgages/mortgage-calculators/mortgage-payments
Edit: Seems as though my current lender's terms are up to 35 years, so I can use the calculator to figure out my rate tolerance.
Might be better off just absorbing the repayment penalty and getting a brand new mortgage at the best available terms that also includes the additional borrowing I want. Is that a thing? As in, can I negotiate a cash amount to be provided on taking out the mortgage?
J0nathan
Ahead of approaching my lender, is there a reliable way to anticipate roughly how much they would lend me on a remortgage while keeping the repayment amount the same (i.e. how the remaining term is affected)?
I currently have 17 years left and am on a capital + interest with 30% LTV (although I see that the current valuation is very low so think I'd benefit from a new valuation in order to keep in lower LTV bracket(s) with any remortgage).
As a starting point, assuming 30 years is the maximum term, would I be able to try and figure out the maximum amount I might be able to borrow before the repayment amount starts to increase? Or does a real person deliberate such things?
Essentially I'm planning to do loft extension, garden studio, new bathroom and other small jobs next spring. I do not know yet how much this is going to cost, but am in the process of getting quotes and would like to try and have an idea of the theoretical maximum funds I'll have available.