Monthly repayment interest vs principal

[60watt]

Hi,

I'm considering getting a mortgage, here are the details

Mortgage Amount = 224,000
Monthly Repayment = 1,086.25
Duration = 24 years
Rate = Based on a three year fixed 3.71% APR


My question is how much of the monthly payment goes towards paying the interest and how much goes towards paying off the principle ?
For example after 3 years how much of the principle will I have paid back ?
How can I work this out ?

Thanks

 

[Coldwarrior]

This excellent mortgage calculator can answer all your questions: https://www.drcalculator.com/mortgage/

BTW ignore the APR, what's the fixed rate for the first 3 years? Use that in the calculator not the APR.

 

[60watt]

Three year fixed rate of 2.95% (3.71% APR)

 

[Coldwarrior]

After 3 years at that rate you'd owe roughly 204k. Not sure of your LTV but there are a lot better rates available, try putting your details in bonkers to see the available options https://www.bonkers.ie/compare-mortgages/

 

[60watt]

Thank you. That is an excellent calculator