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Mortgage Repayments

  • 07-07-2010 11:16am
    #1
    K09
    Registered Users, Registered Users 2 Posts: 649 ✭✭✭


    Hi,

    What would be the likely mortgage repayments of 340k over a 30year term?
    What reliefs would I be able to deduct from repayments?
    Thanks.


Comments

  • #2
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    Ballpark 2k per month AT CURRENT HISTORICALLY LOW INTEREST RATES. Tax relief, have no idea what the current setup is for new FTBs, probably fairly small compared to the repayments on that big of a mortgage.


  • #3
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    Gurgle wrote: »
    Ballpark 2k per month AT CURRENT HISTORICALLY LOW INTEREST RATES. Tax relief, have no idea what the current setup is for new FTBs, probably fairly small compared to the repayments on that big of a mortgage.

    And thats why I love my tracker.

    347k mortgage, €1198 per month payments :D:D


  • #4
    Rabidlamb
    Banned (with Prison Access) Posts: 2,202 ✭✭✭Rabidlamb


    http://www.drcalculator.com/mortgage/ie/

    Easiest to use calculator out there.
    You'll need to work out your own TRS though to take away.


  • #5
    danbohan
    Closed Accounts Posts: 1,914 ✭✭✭danbohan


    D3PO wrote: »
    And thats why I love my tracker.

    347k mortgage, €1198 per month payments :D:D


    lets hope you still love it as much when ecb rate hits 5%!


  • #6
    quozl
    Registered Users, Registered Users 2 Posts: 3,308 ✭✭✭quozl


    http://www.drcalculator.com/mortgage/

    I'd suggest a 5 or 6% interest rate as a minimum level to use.


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  • #7
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    danbohan wrote: »
    lets hope you still love it as much when ecb rate hits 5%!

    He'll still be paying ~2% less than the going variable rate.


  • #8
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    danbohan wrote: »
    lets hope you still love it as much when ecb rate hits 5%!


    Oh I will. That lovely lump sum i have earning more in a deposit account than the interest Im paying now will be off the mortgage.

    Were not all financial morons, some of us actually realise rates are at historically low levels :rolleyes:

    sorry if I offended you by pointing out the value of a tracker :rolleyes:


  • #9
    SamB64
    Closed Accounts Posts: 29 ✭SamB64


    Money saving expert to the rescue?

    http://www.moneysavingexpert.com/mortgages/mortgages-vs-savings

    Hope this helps,

    Sam.


  • #10
    danbohan
    Closed Accounts Posts: 1,914 ✭✭✭danbohan


    D3PO wrote: »
    Oh I will. That lovely lump sum i have earning more in a deposit account than the interest Im paying now will be off the mortgage.

    Were not all financial morons, some of us actually realise rates are at historically low levels :rolleyes:

    sorry if I offended you by pointing out the value of a tracker :rolleyes:

    reasuring to know , no you did not offend me why would it , your lucky to have a tracker, a lot people seem to think its like free money , its not. wish their were more people like you in the country then we would have none this bleating about negative equity bailouts.


  • #11
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    danbohan wrote: »
    wish their were more people like you in the country then we would have none this bleating about negative equity bailouts.


    I agree its pathetic. Im embarassed by the me feinism, the self indulgent, blame everybody but me attitudes that some peopel have.

    Your in NE tough sh*t deal with it


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  • #12
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    D3PO wrote: »
    I agree its pathetic. Im embarassed by the me feinism, the self indulgent, blame everybody but me attitudes that some peopel have.

    Your in NE tough sh*t deal with it
    For an owner / occupier NE is purely a state of mind. You own a house, you owe money to the bank. Worrying about whether the value of your home is more or less than the loan is pointless masochism.


  • #13
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Gurgle wrote: »
    For an owner / occupier NE is purely a state of mind. You own a house, you owe money to the bank. Worrying about whether the value of your home is more or less than the loan is pointless masochism.

    I agree with you.
    The fact is that a lot of people have grown to view their house as some sort of a piggy bank to be raided for that extra holiday- that 10-D car, that new kitchen- or whatever.....
    There is some sort of disconnect out there- that is quite inexplicable......


  • #14
    Rhacko
    Registered Users, Registered Users 2 Posts: 4 ✭Rhacko


    Loan amount: €340,000 Rate type: Variable
    House value: €400,000 Lender: AIB
    Loan/value ratio: 85% Term: 30 years
    Term: 30 years Interest rate: 2.99%
    Monthly payment: €1,431.62


  • #15
    knuth
    Registered Users, Registered Users 2 Posts: 469 ✭✭knuth


    smccarrick wrote: »
    The fact is that a lot of people have grown to view their house as some sort of a piggy bank to be raided for that extra holiday- that 10-D car, that new kitchen- or whatever.....

    Classic.


  • #16
    Treehouse72
    Registered Users, Registered Users 2 Posts: 1,003 ✭✭✭Treehouse72


    Rhacko wrote: »
    Loan amount: €340,000 Rate type: Variable
    House value: €400,000 Lender: AIB
    Loan/value ratio: 85% Term: 30 years
    Term: 30 years Interest rate: 2.99%
    Monthly payment: €1,431.62


    Where does this quote come from? And what's with the assumption of a 2.99% IR over 30 years?


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