935.16 to 1008.52 is a rise of around €73. Where is the 280 figure coming from ? Are you saying that the next rise is going to be around 400 for a .5% to bring it up to 1400 ? Are there arrears on the account which may have to be included in the new figure ?Once the IO kicked in, it reduced to €935.16 @ 3.5%
The €863.07 pm @ 3.0% STDVAR
Before jumping up to €1,008.52 this month on account of the rate increase.
Once the IO kicked in, it reduced to €935.16 @ 3.5%
935.16 to 1008.52 is a rise of around €73. Where is the 280 figure coming from ? Are you saying that the next rise is going to be around 400 for a .5% to bring it up to 1400 ? Are there arrears on the account which may have to be included in the new figure ?
note: please refrain from swearing as per the posting guidelines.
What is the balance owing? Presume it is not an even 360k now.
If it was then an increase of .5% on 360 would mean extra €150 p.m.
Its simpler because you arent repaying capital
the quote suggests your current ballance is 320k
0.5% increase on 320k is €133 per month
which means 0.5 + the new 0.5 will mean €266 extra a month over all since you went IO or another increase of €133 to come
360 x .5% , divide by 12 for monthly amount = 150
What has changed so dramatically in 3 years that you have had to go on interest only? Did one of you lose a job?
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