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Mortgage advice please!
csrivats
Posts: 53 Forumite
Hello
I recently took a mortgage from Standard Life to buy my first home.
I am now told that the first month repayment would be interest only and the regular payment (capital + interest) would be taken only from the 2nd month
Is this how all mortgage works?
Any advice would be most appreciated
I recently took a mortgage from Standard Life to buy my first home.
I am now told that the first month repayment would be interest only and the regular payment (capital + interest) would be taken only from the 2nd month
Is this how all mortgage works?
Any advice would be most appreciated
0
Comments
-
Yes and no.
Depends on when the mortgage starts within a month. Its not such a big deal is it? If it is then just overpay the repayment part.
It depends on the lender. But quite a lot do it that way.0
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