Not your question I know, but would you consider putting the monthly overpayment into Trade Republic, paying 4% interest, and then using the total saved to pay off a chunk of the mortgage at the end of your fixed rate?Hi, I’ve tried a few of the calculator suggested on various thread but they don’t seem to be that I’m looking for
Has anyone a link to an online calculator who which will show me my new monthly repayment month by month if I over pay
Im currently at 2.1 % fixed for 5 years , nearly 4 remaining.. of a 15 year with AIB
My monthly repayment is now down to 1160 , I’m paying 1500 per month making my online overpayment so each month my repayment amount changes but I still pay 1500
I’m thinking of paying extra each month and would like to see how it effects the monthly premium each month keeping it at the 1500 plus whatever extra
(For example I want to over pay another 1000 each month say this year. I’d like to see if I do this for feb to June what would my July repayment , or if I keep the amount each month 2500 the same how quickly it wil be cleared )
I
It’s prob some sort of a spread sheet in looking for .. I’m not tech savvy
Thanks in advance
Although if you put it on Deposit at 4% you make €40 minus DIRT @ 33% = €26.80, and you can access the money in event of emergency.I suggest that you are asking the wrong question.
The cost of your mortgage is the interest you are paying on it and not the repayment which includes capital.
So if you overpay €1,000 on 1 January then you will save 2.1% or €21, this year.
Next year, you will save €1,021 @2.1% in interest.
Etc.
That is the only meaningful information you need.
Working out what your repayment will be in 6 months or working out the date by which the mortgage will be cleared, doesn't give you any useful information.
Brendan
Found it../ I think that’s exactly what I’m afterKarls mortgage calculator is one of the most widely used
I am unable to post the link
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