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amortization shedule
tir21
Posts: 1,030 Forumite
Hi is this a british term. Never heard it till recently
Not sure I understand the principle. Why not just say that if you borrow 100k and at a certain interest you will have to pay back 125k
Then 125k divided by 300 equals such and such a month?
Not sure I understand the principle. Why not just say that if you borrow 100k and at a certain interest you will have to pay back 125k
Then 125k divided by 300 equals such and such a month?
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Comments
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Amortization is a whole lot shorter than "that if you borrow 100k and at a certain interest you will have to pay back 125k"I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Because that would be a 25 year fix and most banks (all?) don't offer such terms for one reason or another.0
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It shows the way in which the ratio of interest to capital repayments alter over the term of the mortgage.0
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