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too high or not

shooter1978 · 2010-02-03 21:20:05

hi guys , i have an outstanding mortgage of 210,000 with kbc homeloans.2.6 APR. monthly repayments of 1120 per month . this seems a bit high . i have been on to the bank and awaiting feedback . just thought i would ask the question see what people thought . thanks in advance

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03-02-2010 10:20pm

#1

shooter1978

Closed Accounts Posts: 54 ✭✭

Join Date: July 2008

Posts: 42

hi guys , i have an outstanding mortgage of 210,000 with kbc homeloans.2.6 APR. monthly repayments of 1120 per month .

this seems a bit high . i have been on to the bank and awaiting feedback . just thought i would ask the question see what people thought .

thanks in advance

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#2 03-02-2010 10:42pm
rameire

Registered Users Posts: 4,152 ✭✭✭

Join Date: May 2002

Posts: 3919

really depends on the term remaining, assuming its a capital and interest repayment mortgage.
( not an interest only mortgage )

🌞 3.8kwp, 🌞 Split 2.28S, 1.52E. 🌞 Clonee, Dub.🌞

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#3 04-02-2010 2:48pm
tHE vAGGABOND

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Posts: 6367

also loan to value ratio [LTV]

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#4 06-02-2010 2:13pm
tenchi-fan

Closed Accounts Posts: 3,339 ✭✭✭

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Posts: 3240

2.6% isn't a bad rate.

If your mortgage term is only 20 years then €1120 sounds about right.

Of course that amount might include Life Cover, Payment Protection, Income protection, Home Insurance and other costs. Some people are paying too much for these extras by not shopping around.

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