Help with calculating mortgage balance

K

kitty81

Registered User
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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?
 
This is your amortisation table

1688990498336.png
 
In July 2029, it will be 6 years, so it will be down to about €37k

You should not be planning that far ahead.

You may have it paid off by then if you overpay your mortgage. You may owe more if you get into mortgage difficulties. You may trade up.

With only 4 years to go at that stage, the longest you could fix for would be 4 years.
 
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