Tracker rate rise – buy-to-let

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Aurelius

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Hi,
Hoping someone can help here.

I have a BTL interest only mortgage managed by Pepper (previously PTSB)
I was on a rate ECB +1.1 percent with the recent rate rise of 0.5% this has increase to 1.6%.
The amount outstanding is €185k with 8 yrs remaining on the mortgage.
Can someone tell me what my extra payment should be per month due to the rate rise of 0.5% ?
I was expecting the rate rise of 0.5% to be somewhere in the region of €40+ per month but it is significantly more then that.
Also what extra payment should I expect from the recent 0.75% rise.
Value of property is 250k.
No additional mortgage on property.
Clean credit history.
Ber C2.

Want to remain flexible and not tied into fixed rate as I have concerns about SF proposals regarding repossession of property from tenants.

Thanks.
 
€185k, 8 years @1.1% would mean a monthly repayment of €2014.

€185k, 8 years @1.6% would mean a monthly repayment of €2054. So I get a similar figure to you, about €40 a month increase.

€185k, 8 years @2.35% would mean a monthly repayment of €2116. I.e., a further €61 a month (or €102 overall).
 
Thanks everyone for the reply’s and confirming the €77 extra repayment is correct.

Thank you.
 
“Sinn Féin propose to prohibit any landlord from terminating a residential tenancy for the purpose of allowing his or her family member to occupy the dwelling.”
 
For what it's worth when the Sept .75% kicks in it will mean additional 115 per month.

And there is another .75% coming.

By November probably looking at total increase of 77 + 115 + 115
=307 per month

You were paying 170 per month

In a few weeks you'll be paying 477

At 3.1%
 
And people wonder why landlords are selling up. A great example of increased costs in terms of servicing a mortgage on a buy to let
 
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