What is a good LTV ratio for a mortgage?

A Loan-to-Value (LTV) ratio below 80% is generally considered good, meaning a deposit of at least 20%. Lower LTV ratios typically attract lower interest rates. First-time buyers in Ireland are limited to 90% LTV under Central Bank rules, meaning a minimum 10% deposit.

Should I choose a fixed or variable mortgage rate?

Fixed rates offer payment certainty for the fixed term — ideal if rates are expected to rise. Variable rates can go up or down with the market and often allow overpayments without penalty. Most borrowers choose fixed rates for budgeting certainty, especially during high-rate periods.

How much interest do I save by overpaying my mortgage?

Even small overpayments can save thousands in interest. For example, overpaying €100/month on a €300,000 mortgage at 3.5% over 25 years can save over €18,000 in interest and cut 2 years off the term. Check with your lender — some fixed-rate mortgages limit overpayments to 10% per year.

What is APRC on a mortgage?

APRC (Annual Percentage Rate of Charge) is the standardised total cost of a mortgage per year, including interest and all fees, expressed as a percentage. It is required under the EU Mortgage Credit Directive (2014/17/EU) and allows borrowers to compare mortgages on a like-for-like basis.

What is an amortisation schedule?

An amortisation schedule is a table showing every monthly payment over the life of the mortgage, broken down into interest and principal portions. Early payments are mostly interest; later payments are mostly principal. Our calculator generates a full amortisation schedule for any mortgage.

🏠 Mortgage Repayment Calculator

Calculate your monthly mortgage payment, total interest and amortisation schedule. Uses EU MCD-compliant APRC formula.

Property Price €350,000

Deposit €70,000 (20%)

Interest Rate (%)

Mortgage Term (years)

Rate Type

Overpayment (monthly €)

Currency

⚠️ For illustrative purposes only. This calculator does not constitute financial advice. Results may differ based on lender fees, arrangement costs and other charges. Always consult a qualified mortgage adviser before making decisions. Your home may be repossessed if you do not keep up repayments.

How to Use the Mortgage Repayment Calculator

In This Guide

How the calculation works
Understanding LTV ratios
Benefits of overpaying
Fixed vs variable rates

How the Calculation Works

This calculator uses the standard annuity formula used by all major lenders: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the total number of monthly payments.

Understanding LTV (Loan-to-Value)

Your Loan-to-Value ratio is the loan amount divided by the property value, expressed as a percentage. Most lenders offer their best rates at LTV ratios of 60–75%. Above 80% LTV, you may be required to take out mortgage protection insurance.

Benefits of Overpaying

Making overpayments reduces your outstanding balance faster, which significantly reduces the total interest paid. Even an extra €100/month on a €250,000, 25-year mortgage at 4% can save over €15,000 in interest and cut 2 years off the term.

Fixed vs Variable Rates

A fixed rate mortgage locks your interest rate for an agreed period (typically 2–10 years), giving payment certainty. A variable rate tracks the lender's SVR or a reference rate (e.g. ECB base rate + margin), meaning payments fluctuate.

Frequently Asked Questions

Can I use this for interest-only mortgages? Yes — select "Interest Only" from the Rate Type dropdown. In interest-only mode, your monthly payment covers only the interest; the capital is repaid in full at term end.

Does the calculator include stamp duty and fees? No — this calculator shows repayments on the mortgage loan only. Use our Stamp Duty Calculator for purchase costs.

Is this accurate for EU countries? Yes. The core amortisation formula is universal. Country-specific tax treatment of mortgage interest is complex — always consult a local adviser.

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Important Note: This tool is intended to provide estimates and should not be used as a substitute for professional advice. Information generated by these calculators may be incomplete and does not account for all individual circumstances. Always seek the counsel of a certified expert (such as a financial advisor, healthcare provider, or licensed engineer) before taking action based on these results.

Related Calculators

Mortgage Affordability — How much can you borrow? Income multiple, stress test and LTV.
Mortgage Overpayment — See interest and time saved by overpaying monthly or with a lump sum.
Stamp Duty Calculator — Transfer tax for UK, Ireland and EU countries.