Repayments too high?

L

L0llip0p

Registered User
Messages
92
Mortgage drawn of €172000 in 2003 over 30 years
About €145 remaining.

Rate of 1.75% yet monthly repayment is €742 (excluding trs which is only about €60).

This seems very high, or am I nuts?
 
Check it using a mortgage calculator.. http://www.drcalculator.com/mortgage/

Looks like it should be 614 before TRS.

Is your rate 1.75% plus the ECB rate or just 1.75 in total?

The rate would have to be about 3.2% to have repayments of 742 before TRS.
 
Maybe I am wrong but looks like it should be lower. Did you ask your bank?
 
Just wanted to bounce this around 1st before I go to them. Want to be sure I'm on right track 1st.
 
Is that they are as honest as the day is long?

Your interest rate looks very low IMO
 
Scamming implies fraud and I doubt the bank is actively defrauding the OP. The interest rate is fairly typical for those who got onto tracker mortgages with a good loan-to-value ratio. My rate is currently 1.55%.
 
ok. i take it back. scamming isnt the right word.
but yeah, its a tracker LTV so it is genuinely 1.75%.
 
This post will be deleted if not edited immediately H christ.......ive clearly left my brain at home in de leaba today.

Rang bank all ready for some pow wow and was promptly informed that I have a 25year loan, not 30 year which would explain the figure. Boy do I feel stupid.

Dumb de dumb dumb. Apologies for the post folks.
 
At least you will be mortgage free 5 years earlier than you thought
 
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