How paying more saves you money?

Harry_Boyle

shortchanged wrote: »

No you're alright thanks.

Oh right, thought you were with you asking the IO mortgage related questions.

Harry_Boyle

Thrugelmir wrote: »

May have more to do with Santanders home market rather than an attack on UK mortgage holders. Santander needs to repatriate capital.
Mortgages are capital intensive and low profit margin.

Maybe, though it's been widely reported that several lenders have withdrawn from the IO mortgage market completely and the others require you to jump through so many hoops that it's too onerous to continue with IO. AT least that's how I feel.

I'll just reduce my overpayments by the amount I repay off the capital each month with the repayment mortgage. Bonkers, but there you go. We all need to be nannied because we aren't allowed to balance our own budgets.

What's laughable is that I've done a far better job with my finances than the state has doe with theirs!

Thrugelmir

Harry_Boyle wrote: »

Maybe, though it's been widely reported that several lenders have withdrawn from the IO mortgage market completely and the others require you to jump through so many hoops that it's too onerous to continue with IO. AT least that's how I feel.

Santander were forced to make a provision of 19 billion Euro's against their Spanish property loan book. So its the South American and UK operations that are keeping them afloat.

Harry_Boyle

Thrugelmir wrote: »

Santander were forced to make a provision of 19 billion Euro's against their Spanish property loan book. So its the South American and UK operations that are keeping them afloat.

Maybe, though it's been widely reported that several lenders have withdrawn from the IO mortgage market completely and the others require you to jump through so many hoops that it's too onerous to continue with IO. AT least that's how I feel.

I'll just reduce my overpayments by the amount I repay off the capital each month with the repayment mortgage. Bonkers, but there you go. We all need to be nannied because we aren't allowed to balance our own budgets.

What's laughable is that I've done a far better job with my finances than the state has done with theirs!