how much will my monthly mortgage repayments increse by cosidering my current repayments are 745euro a month and the interest rate has gone up by 1.25% in the EU since december . Amount of money we drew down a year ago was 177000.
2006-10-05 04:38:49 · 5 answers · asked by Anonymous in Home & Garden ➔ Other - Home & Garden
if you owe €177000 and you now pay an extra 1.25% in interest, you'll have to pay roughly €2200 per year or €185 a month to cover the extra interest. It'll probably be a little bit less than that because of the way these things work, but that's not far off.
2006-10-05 04:44:20 · answer #1 · answered by gvih2g2 5 · 0⤊ 0⤋
Hello, how long is the mortgage for? That would be a deciding factor. I would suggest going to one of the realty web sites like realtor.com and typing in the amount and let it figure out the monthly payment. Thanks for the excellent question, I will be sure and get a fixed mortgage. I am looking at a house today. I think that I can get a mortgage for about 7% but am hoping that it will drop a little as I establish my credit. Ta, Dwayne
2006-10-05 04:57:53 · answer #2 · answered by dwayne_barclay 2 · 0⤊ 0⤋
In the USA, it is standard that for each percentage point, your payment will go up $50. Don't know if it is the same in UK.
2006-10-05 04:48:20 · answer #3 · answered by bugear001 6 · 0⤊ 0⤋
Look up'Loan Amortization' on Google it will show you how to work it out
2006-10-05 07:13:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
hey you are not serious!
2006-10-05 07:22:45 · answer #5 · answered by pisces red 2 · 0⤊ 0⤋