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Ported mortgage - interest payments?
mrsslammer
Posts: 3 Newbie
Hiya
Can you please advise, we ported our mortgage 12 months ago when we moved house. We did not require any extra borrowing so everything stayed the same with the mortgage. However, over the last 12 months we have only really payed off interest again with no capital like at the start of the mortgage - is this right? We have held the mortgage for 6 and 1/2 years.
Many thanks:beer:
Can you please advise, we ported our mortgage 12 months ago when we moved house. We did not require any extra borrowing so everything stayed the same with the mortgage. However, over the last 12 months we have only really payed off interest again with no capital like at the start of the mortgage - is this right? We have held the mortgage for 6 and 1/2 years.
Many thanks:beer:
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Comments
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Did you increase the term on your new mortgage, or did it start where the old one stopped?0
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Kept everything the same including the term of the mortgage. Thanks0
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is it an interest only mortgage?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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No, its a repayment mortgage and we were clearing some capital before we moved, now it seems we are not!?! Just worried they've pulled a fast one. Can anyone advise?0
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Which lender is your mortgage with?0
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