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Mortgage Calculator Ireland

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mortgage calculator ireland

Mortgage Comparison – Mortgage Calculator Ireland

Our mortgage calculator compares the 250+ rates available on the market from all 8 lenders and picks the best one for you. It’s updated daily so you can be confident you are getting the latest rates.

How the Mortgage Repayment Calculator / Amortisation Calculator Works – Mortgage Calculator Ireland

There are 3 things that drive how much your monthly mortgage repayment will be.

  1. The amount you borrow
  2. How long you borrow it for
  3. The rate you borrow it at

Based on these things the lender calculates the total interest on your mortgage, then adds it to the amount you borrow (known as the capital) and spreads it out monthly over the length of your mortgage (known as the term).This spreading of repayments in known as an amortisation calculation or if you are from the US an amortization calculation.

Calculated mortgage repayments are based on your mortgage requirements using the annual percent rate charged, this includes the full cost of the mortgage payments and is the most accurate way to compare mortgage repayments across the full term. 

The mortgage calculator Ireland repayments will therefore will vary on a monthly basis, in the early months you may actually save more per month as your repayments may be lower. For example if you switch to a 3 year fixed rate for the first 3 years your monthly payments will be based on the fixed rate you choose. At the end of the 3 year period you will go onto the ‘follow on’ rate, which is typically higher. This means your repayments will rise as a result.

So if you fix for longer or on a rate with a lower follow on rate you may be better off long term even if you are paying more for the initial fixed period. If you just look for the cheapest short term fixed rate it could end up costing you a lot more.

Total Repayment ComparisonFixed Monthly RepaymentFollow On Monthly RepaymentTotal Repayment
3 Year Fixed @ 3.60%€1,364€1,703€600,400
20 Year Fixed @ 3.95%€1,424€1,703€545,297
Total€55,103
Based on €300,000 mortgage over 30 years at a follow on rate of 5.5%

To get a true comparison of your repayments for switching mortgage or buying then you should compare the average of the fixed period and follow on period repayments versus the average repayments of your current mortgage. Unlike others, that’s how we calculate our repayment comparisons. This gives a truer picture of the actual likely cost of your repayments.

You should use the APRC to check the average monthly payments for your mortgage and compare against others according to the CCPC.

How Much Will My Mortgage Repayment Be? – Mortgage Switcher Calculator Ireland

The mortgage switcher calculator or remortgage calculator shows how much you will repay each month based on the lowest repayment available to you based on your loan to value. It only shows the mortgage rates at your loan to value based on the ratio of the home value to the mortgage value. 

Mortgage repayments are calculated by amortising (or amortizing if you are american) your repayments across the duration of the mortgage. The mortgage amortisation calculator simply splits the total cost of your original mortgage capital and the total interest to be charged on that capital into monthly payments.

Depending on your exact circumstances and credit history the actual rate and lenders available to you may vary. Your mortgage broker will advise as to the best repayments for you taking these factors into account.

You can also check out every rate on the market by using our mortgage calculator which will give you each rate by lender.

The Mortgage Calculator Ireland is also known as a Mortgage Repayment Calculator, Mortgage Switcher Calculator or Remortgage Calculator. You can use it to calculate both repayments and switching or remortgaging savings.

In a Nutshell – Mortgage Repayment Calculator Ireland

In just 3 steps the mortgage repayment calculator, scans the whole Irish market for the latest offers and calculates your lowest monthly repayment for buying or switching. If you want to apply online you can then book a free mortgage check up with one of our mortgage sherpas. Simple as that!

Other Mortgage Calculators – Mortgage Calculator Ireland

You can also use our other mortgage tools to help you get mortgage ready.

Explore our guides

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