After an appointment, the one thing that a client wants to know is the ‘How much?’. What will the monthly mortgage payments be? What will debit their account month on month? Thankfully though, not at any point does a client want to know how a lender’s complex algebraic system produces that payment figure - and for that, we’re grateful. So, it came as a surprise to learn that on ‘Ask the Public’ one of the highest ranked questions currently being asked is ‘How are mortgages calculated?’ We have wondered whether it is coming from the general uncertainty of interest rates and a desire to understand the cogs that turn behind the final numbers. But whatever the motivation, we will happily spare you the detailed version. Mortgages are calculated based on the loan amount, interest rate, loan term, and additional costs and fees, using a specific formula to determine monthly payments. Any one of these factors will either decrease or increase the mortgage calculation, and it's a broker’s job to look at the factors that they can advise on, like the term or loan amount, to work with a client to reach a monthly amount that is affordable for them.