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Percentage between captial and interest
Kopite1976
Posts: 11 Forumite
Hi
Roughly, can anyone tell me what a standard capital and repayment mortgage reduces capital by?
ie is the monthly payment 75% interest, 25% capital?
or are they all different?
Roughly, can anyone tell me what a standard capital and repayment mortgage reduces capital by?
ie is the monthly payment 75% interest, 25% capital?
or are they all different?
0
Comments
-
Depends on your term and where you are in it. Your first payment pays off very little capital, your last one pays off a great big chunk.0
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Spends on the interest rate and the term.
So a a 25 year term at 5%.
Year 1 is 29% capital.
rising to
Year 25 is 95% capital0
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