tracker morgtage repayments

mail

Hi would anyone be able to tell me what monthly repayments would be on a morgtage of 160,000 on a tracker rate of 1.25%. I went on interest only for a while but would like to go back on full repayments. I havent contacted the bank yet , just wondering what it would be, thanks.

unclebill98

Only your bank can tell you because you'll have to add on the capital you did not pay while on interest only.

homer911

Assuming 160k is the original amount borrowed, the theoretical monthly repayment on a 25 year term (ignoring TRS) would be €621 based on the 1.25% rate

On a 20 year term - €753, on a 30 year term - €533

The new repayment with the bank would depend on the current balance and the agreed term to pay the remainder over

If the rate were say 3% the original €621 would become €757

nomad15

hey mail - I'm not sure if it's exactly what you're looking for, but you might want to check out http://www.mortgagerates.net - that helped me figure some stuff out last week. Cheers. :pac:

pjmn

To 'Mail'.

I'd suspect when you say a Tracker rate of 1.25%, you mean the bank's margin is 1.25% - therefore at current ECB rate of 1% - overall rate will equal 2.25%.

Homer has given you the relevant repayments assuming the rate is 1.25% - below are the repayments assuming the rate is actually 2.25%... (ignoring TRS)

E160k over...

15 years = E1,047 per month
20 years = E 828 " "
25 years = E 697 " "
30 years = E 611 " "

Regards,


pjmn

mail

Thanks for the replies , i should have stated that the term was for 25yrs and the balance 160,000 tracker 1.25% +ecb.