mortgage related online calculators

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davidbehan

Guest
Hi,

I manage a website for a national mortgage broker and I am developing a number of calculators for their website. I am wondering what types of calculators you might find useful from a site like this?

We currently have a standard mortgage repayment calculator and a stamp duty calculator at www.blueskymortgages.ie/mortgage-calculators/

I am considering a debt consolidation calculator and an interest only mortgage calculator. As potential users of a site like this, could you suggest any that you may find useful?

I appreciate any comments or suggestions.

Thanks for your time! :D

Rgds, Dave
 
what about a calculator that works out mortgage repayments AFTER TRSI...there really aren't that many variables when it comes to caculating TRSI
 
I presume they mean owner occupier mortgage interest tax relief sometimes called TRS (Tax Relief at Source) even though that term can apply to a range of tax reliefs. No idea what the 'I' stands for though.
 
So a calculator that works out their tax relief as well based on salary and credits, and combines it with the mortgage calculator?
 
No - I think they mean a mortgage repayment calculator that gives the repayment amount after owner occupier mortgage interest relief applicable to the individual's circumstances has been deducted. Most calculators give the "gross" amount before deduction of tax relief.
 
I'd like to see what interest relief we'd get on our mortgage, you could provide this a kind of guide/table with examples of monthly tax relief based salary, single married etc. rather than combining it with the mortgage calculator. I prefer quick calculations rather than having to key in salaries, monthly outgoings etc, etc.
 
ClubMan said:
No - I think they mean a mortgage repayment calculator that gives the repayment amount after owner occupier mortgage interest relief applicable to the individual's circumstances has been deducted. Most calculators give the "gross" amount before deduction of tax relief.
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Ok, I'll do some research with the company. Thanks for clarifying.

sadie said:
I'd like to see what interest relief we'd get on our mortgage, you could provide this a kind of guide/table with examples of monthly tax relief based salary, single married etc. rather than combining it with the mortgage calculator. I prefer quick calculations rather than having to key in salaries, monthly outgoings etc, etc.
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Good point. I'll look at doing this too. Thanks!
 
sadie said:
I'd like to see what interest relief we'd get on our mortgage, you could provide this a kind of guide/table with examples of monthly tax relief based salary, single married etc. rather than combining it with the mortgage calculator. I prefer quick calculations rather than having to key in salaries, monthly outgoings etc, etc.
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But you can already look up the maximum amount of interest qualifying for relief on Revenue's website and then apply relief on that (or some lower amount if the interest charged is below the maximum relief level) to the repayments from calculators such as Karl Jeacle's.
 
Yes but I don't know how to work it out. What I (and any other Joe Soap) wants to know when seeing how much I can afford to borrow, is how much per month do I get 'off' my mortgage repayments in tax relief. Eg. my yearly allowance for married people is 4000 euro, that's all I can figure from the Revenue leaflet on the website. My mortgage repayment is say 850 euro a month, I've no idea how to make Karl Jeacle's graph tell me what this translates to. So a quick and dirty estimate table would be a great help in this instance.
 
Unfortunately Karl's calculator wouldn't load for me on this machine. I'll have to try it on another machine. Thanks for the great feedback on what you want. I'll put them forward for development.

As a matter of interest, what do you think of the current calculators and their style/functionality? Any suggestions for improvement?

Thanks, Dave
 
davidbehan said:
Unfortunately Karl's calculator wouldn't load for me on this machine.
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You probably don't have the latest Java runtime installed.
As a matter of interest, what do you think of the current calculators and their style/functionality? Any suggestions for improvement?
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Karl Jeacle's is the best that I've seen to date.
 
sadie said:
Eg. my yearly allowance for married people is 4000 euro, that's all I can figure from the Revenue leaflet on the website.
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Are you sure that you're looking at the latest figures?

[broken link removed]

For joint/married FTBs in the first 7 years of their mortgage a maximum of €16,000 interest qualifies for relief at 20%. This means that if you pay at least €16K interest on the mortgage then you get relief of €16K @ 20% = €3,200 p.a. or €266.67 p.m. - i.e. your monthly repayment is reduced by €266.67. If you pay less than €16K interest this year then you get relief on the lower amount actually paid.
My mortgage repayment is say 850 euro a month, I've no idea how to make Karl Jeacle's graph tell me what this translates to. So a quick and dirty estimate table would be a great help in this instance.
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The repayment amount on its own tells us nothing. Enter your mortgage amount, term and rate and then click the Annual Table button. The resulting table of figures estimate your annual capital and interest amounts. If the annual interest amount is greater than or equal to the maximum relief amount for your circumstances (e.g. the €16K mentioned above for joint FTBs in the first 7 years of their mortgage) then you get the maximum relief. Otherwise you get relief on the lower amount actually paid.
 
Sorry for all the confusion, Clubman is correct I did mean TRS. I have no idea where I got the I from.

[broken link removed]
 
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