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loan or mortgage
billozz
Posts: 178 Forumite
i want to borrow £25000 and am not sure whether to have a loan or remortgage, i will overpay from the start not sure by how much but will definately try to pay extra each month. but i would like to keep the payments as low as possible to start with, then incrrease them over a period of time. can anyone advise what that ammount would cost to borrow
thanks
Bill;
thanks
Bill;
Smile and be happy, things can usually get worse!
0
Comments
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Remortgaging may well be the better option. As the money can be borrowed over the remaining term of the mortgage. So monthly outgoings will be lower. Depending on the mortgage product overpayments could subsequently be made to clear the debt quicker.0
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Thrugelmir,
thanks for the reply any ideas what 25000 would cost per month to borrow
thanks
BillSmile and be happy, things can usually get worse!0 -
As a guide. Over a 10 year term at 5% interest around £265 per month.0
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