Remortgage Calculator

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Note. This calculator is suitable in estimating monthly payments when consolidating personal debt as part of a remortgage and releasing some equity. 

This calculator compares the monthly outgoings on existing mortgages and loans with repayments on a consolidated loan.

Debt consolidation criteria guide.

If you wish to refinance short term debt the following conditions apply:

  • Overall loan to value following equity release maximum 80%
  • Maximum value of loans to be refinanced €40,000
  • Maximum number of loans to be refinance is typically two. 
  • Loan refinance element not greater than 25% of new mortgage
  • Refinancing debt incurred on renovating your home in the past three years is allowable in excess of the restrictions above.

Important points to remember on a remortgage include:

  • The new mortgage cannot be greater than 80% of the current value of your home.
  • You need to be in secure permanent employment
  • The new repayments must be comfortably affordable.

Mortgage holders switch for a combination of reasons, so that in one remortgage transaction they move to a cheaper mortgage and consolidate some short term debt. In general they are more than happy to start a new relationship with a better value provider.

Important note - Warning: If you consolidate short term debt into a remortgage, you may significantly increase your interest costs if you remortgage these debts over a longer term.