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Interest only paid - how much after sale of property?
Chandrani
Posts: 9 Forumite
Hello there,
If have a mortgage for £105,000 and have paid interest only, if I sell for £135,000 - would I receive £30,000 minus the redemption fee?
Sorry if it's obvious but am getting into a pickle!
Many thanks
If have a mortgage for £105,000 and have paid interest only, if I sell for £135,000 - would I receive £30,000 minus the redemption fee?
Sorry if it's obvious but am getting into a pickle!
Many thanks
0
Comments
-
Yes ( and yes , it's obvious, the clue is in the word "only". You only pay the interest)
Does give some substance to a thread a week ago where most people thought that "interest only" was obvious but one poor soul didn't seem to understand that ! Now it seems there are two.
Don't forget the other fees you'll pay when you sell as well. Not just the redemption fee.0
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