Remortgage Calculator

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If you just want to switch and save money without consolidating any short term debt 

   Click here switch and save 

 

 

 

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.