# How to verify correct monthly mortgage cost



## riddles (16 Aug 2019)

Hi 

If I put the mortgage amount into a standard calculator 135000 over 20 years *1.20% I get a repayment of 632€ yet the repayment is close on 660€* am I calculating something wrong here?

Thanks,
R


Home Loan - Tracker - <60% <200K -* ECB+0.95% (this I make the interest 1.20%)*
Product start date

n/a
Interest rate

0.950000%
Original loan amount

€135,000.00
Amount issued
Remaining balance

€-38,772.31
Status

Loan is active.
Arrears / Prepayment

                    €201.84                      Prepaid
Branch NSC

990722
*Repayment details*
Repayment date

26 Aug 19
Principal & interest

*€659.69*
Insurance

€13.27
Total

€672.96
Agreed payment

€672.96
Mortgage type

Home Loan - Tracker - <60% <200K - ECB+0.95%
Product start date

n/a
Interest rate

0.950000%
Original loan amount

€135,000.00
Amount issued

€135,000.00


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## moneymakeover (16 Aug 2019)

I thought ECB base rate was 0%

But possibly your bank using different


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## cremeegg (16 Aug 2019)

moneymakeover said:


> I thought ECB base rate was 0%
> 
> But possibly your bank using different



The ECB marginal lending facility is 0.25% see here https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html

So the OPs rate of 1.2% is correct. (0.95+0.25=1.2)

That tells the amount of interest that should be charged, a different thing from the amount of the repayment. The above post refers to an agreed repayment. Whats that ?

Why are you putting €135,000 into the repayment calculator, is that your original loan amount, or your current balance.


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## Protocol (16 Aug 2019)

Main ECB rate is 0%, used in trackers.


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## riddles (16 Aug 2019)

135000€ was the original loan amount.


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## onequestiononly (16 Aug 2019)

That looks like an Open24 screenshot. I assume you have approx. 5 years remaining, (what is your actual remaining term) if your oustanding balance is c.38,772.

each time there is a rate change etc. your repayment is recalculated to clear the loan over the remaining term. using your original drawdown amount with current interest rate which is .95% will not give your current repayment amount.


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## riddles (17 Aug 2019)

Yes PTSB remaining balance 38,772.31


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## onequestiononly (17 Aug 2019)

put your current balance into an online mortgage calculator with .95 rate and your term (assumed 60 months) and you get payments of approx. 662.  payments look about right to me but you would need to get the balance and term at the time it was calculated to be sure.


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