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Interest question
Comments
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Just to add that sentence is based on you making all of your payments on time, no overpayments, no early or late payments, you revert to the SVR and the SVR remains the same for the ful 20 odd years.clairebeth wrote: »But yes, you pay interest for the whole time you have a mortgage. If you look at your initial letter from your lender, it should have a bit that says 'this will cost you £125000 over 20 years', or similar.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 -
Yes, what ACG said ^^.0
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