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The NEW angrier Freewheeler

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Originally posted by McG McG wrote:

Originally posted by Sham157 Sham157 wrote:

Originally posted by McG McG wrote:

Currently paying 2.9%

Thoughts Sausy?
paying 2.25% ‘Green’ rate fixed for 5 years on one and 2.75% on the other variable. I always chip a few extra quid off this one every month. 

When you say you chip a few quid extra off one every month, how do you organise this? Just a DD into that account?

I pay a bit extra off a few times a year, but it's just a simple transfer to the mortgage account. Then I write to the bank and say I've paid X amount off the principle, but I want to maintain the same payments.

Usually get a letter then saying mortgage has been amended and will now terminate on X date

If you don't write to them they will adjust the mortgage payment amount and not the term
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Originally posted by McG McG wrote:

Originally posted by Sham157 Sham157 wrote:

Originally posted by McG McG wrote:

Currently paying 2.9%

Thoughts Sausy?
paying 2.25% ‘Green’ rate fixed for 5 years on one and 2.75% on the other variable. I always chip a few extra quid off this one every month. 

When you say you chip a few quid extra off one every month, how do you organise this? Just a DD into that account?
have a standing order and then throw a few quid extra at times using internet banking.
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Originally posted by McG McG wrote:

Currently paying 2.9%

Thoughts Sausy?
 
On similar myself until Dec this year until I fix again. Might even change mortgage providers, all depends on the rates at the time.
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Regarding overpaying on your monthly repayments, even on a fixed mortgage most providers will allow you to pay an additional 10% without any issue on breakage fee's etc.
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SISAO? What the hell is SISAO?

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Originally posted by sausy sausy wrote:

Originally posted by McG McG wrote:

Currently paying 2.9%

Thoughts Sausy?
 
On similar myself until Dec this year until I fix again. Might even change mortgage providers, all depends on the rates at the time.

Yeah i am fixed until june and might have a nosey then.
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Man City records obsession

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Originally posted by McG McG wrote:

Currently paying 2.9%

Thoughts Sausy?


You can work it out from here 

If you are looking to remortgage try

Doodle.ie
Free online platform that does all the work

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Originally posted by sausy sausy wrote:

Originally posted by Claret Murph Claret Murph wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

Has anyone ever worked out what your house is actually costing over the course of the mortgage, initial purchase, solicitors, engineers then when you move in, insurance, average yearly home repairs. 

 
 
 Nope ,but as a guess i would say double what you paid for the house .
 
Not double. Average mortgage is probably close to €250k at this stage with a term of 35 years so you would end up paying back c. €404k based on 3%. Shorten the term to 20 years and that falls to €332k.

So only €72,000 owed on a 250k house. Didn't think they'd be that low 

Good info Thumbs Up
It would damage this forums' reputation
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SISAO? What the hell is SISAO?

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That's in sterling but yeah, i get the idea.
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SISAO? What the hell is SISAO?

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Originally posted by Artie Ziff Artie Ziff wrote:

Originally posted by sausy sausy wrote:

Originally posted by Claret Murph Claret Murph wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

Has anyone ever worked out what your house is actually costing over the course of the mortgage, initial purchase, solicitors, engineers then when you move in, insurance, average yearly home repairs. 

 
 
 Nope ,but as a guess i would say double what you paid for the house .
 
Not double. Average mortgage is probably close to €250k at this stage with a term of 35 years so you would end up paying back c. €404k based on 3%. Shorten the term to 20 years and that falls to €332k.

So only €72,000 owed on a 250k house. Didn't think they'd be that low 

Good info Thumbs Up

Yeah but at only 20 year mortgage. 1700 monthly repayments over 20 years. Seems reasonable enough if you've two earners in the family when compared to rent
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Originally posted by McG McG wrote:

That's in sterling but yeah, i get the idea.
plenty of irish sites too, www.bonkers.ie do a comparison. Main banks have calculators online
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Ray Houghton
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Originally posted by Zinedine Kilbane 110 Zinedine Kilbane 110 wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

If Planning said the sky was blue I'd look out the window to check. 

I've heard the about double the cost but that's for the mortgage repayments - there are a lot of other expenditures that over time add up to a considerable amount, was wondering if anyone has ever taken the time to roughly work it all out.



There is too many factors at play:
What initial deposit you put down
Your average interest rate over the time 
The condition of the house when you bought it
Who you married *
The value of your house at the end

To pay double on the mortgage you would have to be paying 5% interest over 20 years on Interest only.....
With the initial deposit and paying down capital amounts each month this is be much less...

* this is key, if you married somebody who wants a new kitchen / bathroom / stairs every 5 years you have messed up big time. 



* very much key 

My original question was if anyone had actually decided to work it out for themselves based on their circumstances. 

For most people it will be the biggest thing they will ever purchase, and yet a lot of people don't work the maths out, or switch provider or just rent. 
It would damage this forums' reputation
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Originally posted by McG McG wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

Originally posted by sausy sausy wrote:

Originally posted by Claret Murph Claret Murph wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

Has anyone ever worked out what your house is actually costing over the course of the mortgage, initial purchase, solicitors, engineers then when you move in, insurance, average yearly home repairs. 

 
 
 Nope ,but as a guess i would say double what you paid for the house .
 
Not double. Average mortgage is probably close to €250k at this stage with a term of 35 years so you would end up paying back c. €404k based on 3%. Shorten the term to 20 years and that falls to €332k.

So only €72,000 owed on a 250k house. Didn't think they'd be that low 

Good info Thumbs Up

Yeah but at only 20 year mortgage. 1700 monthly repayments over 20 years. Seems reasonable enough if you've two earners in the family when compared to rent

Yeah I know it's 20 years but still I'd have assumed the repayments would be more. 

Sausy just curious if say a house was 400k and you have 300k - do banks just give you a normal loan for the 100k or any loans for a house have to be a mortgage? Our situation is in 2-3 years we'd be close to buying a house out right with no loan/mortgage needed  
It would damage this forums' reputation
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Originally posted by Artie Ziff Artie Ziff wrote:

Originally posted by Zinedine Kilbane 110 Zinedine Kilbane 110 wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

If Planning said the sky was blue I'd look out the window to check. 

I've heard the about double the cost but that's for the mortgage repayments - there are a lot of other expenditures that over time add up to a considerable amount, was wondering if anyone has ever taken the time to roughly work it all out.



There is too many factors at play:
What initial deposit you put down
Your average interest rate over the time 
The condition of the house when you bought it
Who you married *
The value of your house at the end

To pay double on the mortgage you would have to be paying 5% interest over 20 years on Interest only.....
With the initial deposit and paying down capital amounts each month this is be much less...

* this is key, if you married somebody who wants a new kitchen / bathroom / stairs every 5 years you have messed up big time. 



* very much key 

My original question was if anyone had actually decided to work it out for themselves based on their circumstances. 

For most people it will be the biggest thing they will ever purchase, and yet a lot of people don't work the maths out, or switch provider or just rent. 

The mortgage over rent is a no brainier. It’s hard to work out all the ins and outs over the timeframe. 

It’s like working out how much will this marriage cost me??? 


Switching will save you loads over the long run. 

My aul man had the same mortgage the whole time. That’s how it was done back then.

I’m onto my 3rd provider after 12 years. It makes a big difference to switch as much as possible. 

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Are there any conditions or penalties to switching ?

Some are offering €3k if you switch while also saving €80 per month.

Also whats the average people pay for Mortgage Protection Insurance, Im currently paying €60pm and told its high.
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Originally posted by Gary McKay Gary McKay wrote:

Are there any conditions or penalties to switching ?

Some are offering €3k if you switch while also saving €80 per month.

Also whats the average people pay for Mortgage Protection Insurance, Im currently paying €60pm and told its high.
if you’re currently in a fixed term and switch there would be penalties. 

Thats very high. Under €150 a year is what im paying. Should really shop around, again it can be done online very easily.


Edited by Sham157 - 05 Jan 2021 at 5:27pm
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Originally posted by Gary McKay Gary McKay wrote:

Are there any conditions or penalties to switching ?

Some are offering €3k if you switch while also saving €80 per month.

Also whats the average people pay for Mortgage Protection Insurance, Im currently paying €60pm and told its high.
Yeah I work in the industry, that would want to be a very expensive house or a policy with a lot of extras.
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Originally posted by Zinedine Kilbane 110 Zinedine Kilbane 110 wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

Originally posted by Zinedine Kilbane 110 Zinedine Kilbane 110 wrote:

Originally posted by Artie Ziff Artie Ziff wrote:

If Planning said the sky was blue I'd look out the window to check. 

I've heard the about double the cost but that's for the mortgage repayments - there are a lot of other expenditures that over time add up to a considerable amount, was wondering if anyone has ever taken the time to roughly work it all out.



There is too many factors at play:
What initial deposit you put down
Your average interest rate over the time 
The condition of the house when you bought it
Who you married *
The value of your house at the end

To pay double on the mortgage you would have to be paying 5% interest over 20 years on Interest only.....
With the initial deposit and paying down capital amounts each month this is be much less...

* this is key, if you married somebody who wants a new kitchen / bathroom / stairs every 5 years you have messed up big time. 



* very much key 

My original question was if anyone had actually decided to work it out for themselves based on their circumstances. 

For most people it will be the biggest thing they will ever purchase, and yet a lot of people don't work the maths out, or switch provider or just rent. 

The mortgage over rent is a no brainier. It’s hard to work out all the ins and outs over the timeframe. 

It’s like working out how much will this marriage cost me??? 


Switching will save you loads over the long run. 

My aul man had the same mortgage the whole time. That’s how it was done back then.

I’m onto my 3rd provider after 12 years. It makes a big difference to switch as much as possible. 

I must ask my family and friends if they have switched. I bet few if any have
It would damage this forums' reputation
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Roy Keane
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Yo Adrian

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I wish, no just average house.

He quoted me €220pm and I told where to go as I have a very good Private Health package in work.

Will shop around, cheers.
"Smalling and Jones.... have the potential to be the PL’s best ever pairing in my opinion." - SlurAlex
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