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Mortgage Term and Unexpected Costs
bank_butterfly
Posts: 1 Newbie
Hello All,
Coming to the end of a term on a fixed rate mortgage (higher interest rate) and due to now go onto a variable rate (lower interest rate), but monthly repayments are now increasing. What is the reason behind this? Has the bank miscalculated the mortgage term or is there another reason?
Coming to the end of a term on a fixed rate mortgage (higher interest rate) and due to now go onto a variable rate (lower interest rate), but monthly repayments are now increasing. What is the reason behind this? Has the bank miscalculated the mortgage term or is there another reason?
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