I was hoping that someone may be able to help me with calculations so I can make plans for the future please. We currently have a 10 year fixed mortgage, due to expire in January 2029 @ 2.8%.
We pay €752 each month.
The current balance is €81,700
Can anyone help me understand what the total balance owed would be in January 2029?
As with all things banking, I assume its not as easy as doing the simple €752 multiplied by number of months left to Jan 2029 minus balance?
Will a small balance exclude us from fixing again at that time - I appreciate rates could be very different in 5/6 years from now but interested to know if a small balance could be a barrier?