Fixed mortgage rate repayment higher than I had expected

[jonq74]

I fixed with aib at 2.5% for 5 years. I thought my repayment would be 727pm bit aib letter says 754.amt overall mortgage borrowed is 184k over 30years with 10years paid. Anyone have any idea why they charge 754

 

[Brendan Burgess]

Hi jonq

The original mortgage and term is irrelevant at this stage.

You need to know the exact mortgage balance and the exact term left on the date you fixed.

Brendan

 

[jonq74]

Hi jonq

The original mortgage and term is irrelevant at this stage.

You need to know the exact mortgage balance and the exact term left on the date you fixed.

Brendan

Ah ok. The exact mortgage left is 138474and the final repayment date is 1/4/2039if that helps

 

[Brendan Burgess]

Hi jonq

So it's fairly close. It would depend on what day they calculated it.

Brendan

 

[jonq74]

Thanks. I assumed wrongly that it was over 30years.