Payment Reward Calculator

We’ve put together a calculator to help you see how much you can borrow based on your age and property value.

Note: This calculator is for illustrative purposes only and you will need to meet with a consultant for a detailed appraisal and for an affordability assessment.

Payment Reward Lifetime Mortgage

In the case of joint borrowers, both must be aged at least 55 years of age. The age of the younger borrower is used to determine the maximum loan value.
Your property must be worth at least €300,000 if in Dublin or €250,000 if elsewhere.
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Our maximum loan is €350,000 but contact us directly for loan amounts in excess of this.
This is the indicative maximum amount you could borrow. You can choose how much of this you want to borrow based on the amount required to meet your identified financial needs and objectives.
Loan Details
Enter the lump sum amount you would like to borrow and your own assumption of the average amount by which house prices will grow (or fall) each year during the life of the loan.
The calculator will provide an estimate of your property's future value, the future loan balance and the amount of equity remaining for you or your beneficiaries at various ages.
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Cannot be higher than the maximum loan amount above.
Your property value may increase over time. Please enter the assumed property growth rate you would like to use for this illustration. (The default property growth rate is 2% per annum. You can enter a negative growth rate to see the impact if house prices fall instead of grow over time.)
Projected Loan and Property Value Outcomes
Loan Summary Details
Max Drawdown loan amount:€
Actual Drawdown loan amount:€
No of years committed interest payments:
Allowed Loan-to-Value (LTV):
Actual drawdown LTV:
Customer monthly interest payment:€
PRLM Reward Interest Rate during payment period:5.70%
PRLM Interest Rate post payment period:6.70%
Age Years Loan Balance Estimated Property Value Estimated Equity Remaining LTV
For illustrative purposes only.
Excludes loan set up fee of €1,500 which we recommend you pay upfront to avoid interest being added to the fee.

 

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Notes:

For illustrative purposes, interest on the loan is calculated at the Reward Rate 1 for the agreed Payment Reward Period and the second Reward rate per annum and compounded monthly. Your Annual Percentage Rate (APR) will be calculated and provided to you during the application process.

The estimated future property values are based on your estimate of the current property value and the rate of house price growth you entered.

The equity remaining is based on the estimated future property value less the accumulated loan balance. It does not allow for any costs that may be incurred upon sale of the property.

This Spry Lifetime Mortgage calculator is for illustrative purposes only and is not an offer of a loan. It does not guarantee any future equity in your home. The amount you can borrow will depend on your individual circumstances.

Property values may not increase over the term of the mortgage, and could even fall.
If the amount of equity remaining is shown as zero, the No Negative Equity Guarantee would ensure that you would not have to repay more than the net sale proceeds of your property.

New Loan Enquiry

If you want to take things further, we will work with you to build a clear picture of your own personal needs and whether or not a Payment Reward Lifetime Mortgage is suitable to meet them.

We will guide you through the process, telling you exactly how it all works. The first step is to get in touch with us.

New Loan Enquiry
Spry Finance Payment Reward Example Case Study Annette