We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

4 years on.... Very little repaid ??!!

Minute · 2011-01-31 17:19:33

Hi, We are first time buyers, and got a repayment mortgage 4 years ago at a fixed interest rate of 5%. The yearly statements are very confusing for one, but what really worries me is that it seems that despite the fact that we repay a lot of money every month, AND brought forward some 35 grand deposit to start with, we…

Comments

Doshwaster Posts: 6,399 Forumite

5 February 2011 at 7:52PM

Yes, I bought last June and just received my first mortgage statement last week. I've only paid off about £500 in capital in that time. It's very sobering.

Hopefully now that things have settled down getting the house sorted out I'll soon be in a position to start making overpayments. Looking at the calculators, it's amazing what difference even £50 a month can make.

0