18 August 2017
visit www.avoka.com

Egg calculates the price of mortgages

20 August 2001  |  3336 views  |  0 Egg Call Centre

UK direct bank Egg has launched a Saver Mortgage Calculator, an online tool that allows customers to figure out how much they could save if they linked their liquid savings and their mortgage.

The new interactive calculator, which is available from the bank's Web site, uses data on the size and lifetime of the mortgage, the interest rate payable, and total consumer savings to compute how much consumers could save over the life of a mortgage and how much sooner they could pay it off. The calculator also takes into account the flexibility of a mortgage so customers can also see how taking a payment break, making regular monthly overpayments or paying off lump sums will effect their mortgage term.

Trevor Field, head of lending at Egg, says the new Saver Mortgage Calculator could potentially cut years of a customer's mortgage. "We know that all homeowners would like to pay their mortgage off earlier if they could. This calculator makes it easy for customers to see just how effectively the Saver Mortgage could reduce their mortgage term and just how much money they could save."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Consumers slow to adopt online mortgage lending

Consumers slow to adopt online mortgage lending

23 July 2001  |  3382 views  |  0 comments
Microsoft alliance with Egg lays bait for online financial products

Microsoft alliance with Egg lays bait for online financial products

19 July 2001  |  3346 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.dorsum.euvisit www.worldpaymentsreport.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10133 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8402 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7843 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7766 views comments | 3 tweets | 7 linkedin