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How exactly is the mortgage calculated?

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  • 15-08-2005 4:28am
    #1
    democrates
    Closed Accounts Posts: 2,046 ✭✭✭


    Can anyone tell me how exactly a variable annuity mortgage repayment is calculated?

    I've searched the internet and compared some calculations to my repayments, but they don't match.


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    #2
    ck1
    Registered Users Posts: 123 ✭✭ck1


    There really should not be too much difference between the figures from one lender to the next in this country if you are doing like for like comparisons - the difference is generally up to €10 each way on loans in the region of €250000. What differences are you getting? Have you checked whether you insurance (Life or General) is included on your monthly payment. Remember when comparing calculators work on actual years basis therefor if you have say 14.5 years left you will not get a true comparison.


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    #3
    democrates
    Closed Accounts Posts: 2,046 ✭✭✭democrates


    My bill is about €25 over the monthly projections from online calcs :eek: , and these are month by month, so they have taken on board your point about the years remaining.
    The insurance is totally seperate, I think I need to write a letter to my lender looking for precise information, if it's legit ok, but it could be inadvertant overcharging.
    Will let you know how I get on, but the paper shuffle will take some time.
    Thanks for the input.


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