Buy to Let Morgages

R

rebcacca1

Guest
Possibly a silly question, am new to all of this:

Just wondering how to work out how much the repayment is on a buy to let mortgage.. Is it just a matter of multiplying the interest rate by the loan amount or is it more complicated than that??
Thanks
 
On an interest only mortgage you multiply the amount by the interest rate and divide by 12 to give the monthly repayment. On an annuity (repayment) mortgage you multiply the cost divided by 1000 by the cost per thousand as published by the lender. For example an interest rate of 3.1% equates to a CTP of 4.79 over a 25 year period so a €100,000 mortgage would be €479 per month.

Sarah

www.rea.ie
 
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