I'm currently looking into the fixed rates that are available and am getting confused by the calculators on the websites of the various lenders.
For example, PTSB are offering a 5 year fixed for new business with LTV<50% at Gross 3.7%, APR 4.9%. On 160,000 over 20 years their calculator is giving monthly repayments of €944.46.
BOI are offering 5 year fixed all LTV's at STD 5.7%, APR 4.6%. On 160,000 over 20 years their calculator is giving monthly repayments of €1118.77.
I always thought the APR was the figure to look at so I expected the BOI figure to be lower than the PTSB one, but am assuming that I'm wrong since the lower BOI APR is giving significantly higher repayments.
IS there anyone who could please explain what the difference is between STD/Gross/APR, etc.
Thanks
For example, PTSB are offering a 5 year fixed for new business with LTV<50% at Gross 3.7%, APR 4.9%. On 160,000 over 20 years their calculator is giving monthly repayments of €944.46.
BOI are offering 5 year fixed all LTV's at STD 5.7%, APR 4.6%. On 160,000 over 20 years their calculator is giving monthly repayments of €1118.77.
I always thought the APR was the figure to look at so I expected the BOI figure to be lower than the PTSB one, but am assuming that I'm wrong since the lower BOI APR is giving significantly higher repayments.
IS there anyone who could please explain what the difference is between STD/Gross/APR, etc.
Thanks