Mortgage advice for A Dummy

If you can get a low fixed rate it’s worth fixing.

By low at this point in time I’d mean 2.5% or less

Microsoft Excel and Google Sheets both have a formula for mortgage costs

It’s really worth using these and playing around with the different rates, durations and the value of your mortgage to see what a difference it makes

There are plenty of articles and videos online explaining how to use them.

A €250,000 mortgage over 25 years at 2.5% interest would have a monthly repayment of €1122

Whereas

A €250,000 mortgage over 25 years at 3% interest would have a monthly repayment of €1186

€768 per year

Another to be aware is that you can negotiate with banks - ask them for a better rate.

/r/ireland Thread