HOW WILL THE ECB’S INTEREST RATE HIKE AFFECT YOUR MORTGAGE?
Posted by DLS Capital Management on April 08 2011 @ 09:15
Home owners with tracker mortgages are being warned to prepare for a wave of increases to their monthly mortgage repayments after the European Central Bank raised the interest rate. Those on tracker mortgages will have their repayments immediately increased – while others on variable rate mortgages could also feel the pinch if the lenders themselves pass on the cost to those customers. The increase is the first of what could be many in the coming months, as the ECB tries to stop the Eurozone’s inflation rate from getting beyond control.
Below we have listed how much today’s increase will cost you.
Our figures are sorted by the total duration of your mortgage, and then its total value. Each figure refers to today’s 0.25 per cent increase only.
Over 15 years
€100,000 mortgage: €10.95 extra per month
€150,000 mortgage: €16.43
€200,000 mortgage: €21.90
€250,000 mortgage: €27.38
€300,000 mortgage: €32.85
€350,000 mortgage: €38.33
€400,000 mortgage: €43.80
Over 20 years
€100,000 mortgage: €11.12 extra per month
€150,000 mortgage: €16.68
€200,000 mortgage: €22.24
€250,000 mortgage: €27.80
€300,000 mortgage: €33.36
€350,000 mortgage: €38.92
€400,000 mortgage: €44.48
Over 25 years
€100,000 mortgage: €11.30 extra per month
€150,000 mortgage: €16.95
€200,000 mortgage: €22.60
€250,000 mortgage: €28.25
€300,000 mortgage: €33.90
€350,000 mortgage: €39.55
€400,000 mortgage: €45.20
Over 30 years
€100,000 mortgage: €11.49 extra per month
€150,000 mortgage: €17.24
€200,000 mortgage: €22.98
€250,000 mortgage: €28.73
€300,000 mortgage: €34.47
€350,000 mortgage: €40.22
€400,000 mortgage: €45.96
Over 35 years
€100,000 mortgage: €11.68 extra per month
€150,000 mortgage: €17.52
€200,000 mortgage: €23.36
€250,000 mortgage: €29.20
€300,000 mortgage: €35.04
€350,000 mortgage: €40.88
€400,000 mortgage: €46.72
Over 40 years
€100,000 mortgage: €11.86 extra per month
€150,000 mortgage: €17.79
€200,000 mortgage: €23.72
€250,000 mortgage: €29.65
€300,000 mortgage: €35.58
€350,000 mortgage: €41.51
€400,000 mortgage: €47.44
All figures derived from the mortgage calculator at www.itsyourmoney.ie, a website of the National Consumer Agency