St. Bernard
Registered User
- Messages
- 149
Reality is this mortgage will never be repaid.
Interest rate: Tracker + 1.85%
I have a tracker of ECB & 1.1%
If they split off €85k into a warehouse and don't charge any interest on it, the interest cost will be reduced to
€200k@ 1.85% = €300 per month.
You will be paying some capital off the €200k and gradually paying off your mortgage. You could well end up in positive equity after a few years.
Brendan
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