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loan settlement figure help
takeachillpill
Posts: 39 Forumite
43k loan
taken over 233 months (320 pcm)
2 payments made
what am I likely to owe if I were to pay it off tomorrow (not that I can!)
taken over 233 months (320 pcm)
2 payments made
what am I likely to owe if I were to pay it off tomorrow (not that I can!)
0
Comments
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what was the APR , and are there any early settlement penalties ?takeachillpill wrote:43k loan
taken over 233 months (320 pcm)
2 payments made
what am I likely to owe if I were to pay it off tomorrow (not that I can!):rolleyes: It’s hard enough remembering my opinions - without remembering my reasons for them :rolleyes:0 -
apr is 6.8. No charges.0
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If there is no exit charge, the current balance after 2 payments is going to be about £42,820. Of the 640 you have paid, nearly £500 has gone in interest payments this early in the loan.
That is a big loan, presumably secured against the value of your home.
At some point I'd suggest combining it with your mortgage and trying to get the rate down.
Particularly as you are paying it off over nearly 20 years.
Good luck.
R.Smile
, it makes people wonder what you have been up to.0
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