Mortgage Interest Calculation Query

O

OnLooker

Registered User
Messages
91
I recently came off a fixed rate of 3.99% and switched to an new rate of 4.95% (LTV < 80%).

I have €267k outstanding on the current mortgage. Took out €284k over 30 years 3 years ago.

I am trying to figure out the exact amount I should be paying now as I have been overcharged in the first new mortgage repayment. I was charged €1547.34 which doesn't sound right.

Also, is your current interest calculated off your current capital amount (€267k) or the amount taken out (€284k) ???

I would appreciate all your help!!
 
Dear Onlooker - amount looks reasonable - I'd calculate on E267k over 27 years that repayment would amount to E1,492.18.

Difference could be accounted for either by the fact that amount isn't exactly E267k or term isn't exactly 27 years. If you post exact figures, myself or others may be able to help you further.

Hope that helps.

Regards,


BM
 
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