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Mortgage Rules?
fman
Posts: 8 Forumite
HI everyone!
I need your advice.....
I have 20 grands investment and 82,000 mortgage interest-only.
I would like to change my mortgage from interest to repayment on the 82,000 mortgage. Put 20k onto my mortgage, so i can do repayment for 62,000. it common sense. But most banks won't let me do this!:mad: They say 62,00 repayment and 20k on interest!! But why?:undecided would it be better just put 20k down and do 62,000 repayment?
I need your advice.....
I have 20 grands investment and 82,000 mortgage interest-only.
I would like to change my mortgage from interest to repayment on the 82,000 mortgage. Put 20k onto my mortgage, so i can do repayment for 62,000. it common sense. But most banks won't let me do this!:mad: They say 62,00 repayment and 20k on interest!! But why?:undecided would it be better just put 20k down and do 62,000 repayment?
0
Comments
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Err pardon?0
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can't see why it would be a problem to move the £82k onto a flexible repayment mortgage, then make a £20k overpayment0
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