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What to pay off first Interest only or repayment portion of mortgage
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Bonkers123
Posts: 3 Newbie
Hi we have a mortgage with Barclays - if has it been impossible to contact them over the last few days to speak to their mortgage team.
We have £98 k on repayment and £392k on interest only - both on same interest rate
We have a lump sum to pay into the account of 40K (which we have a latitude to do)
However we are going in circles as to what is the best bit to allocate it too - our view is the repayment 'bit' but is that right and why ?
Can anyone advise?
We have £98 k on repayment and £392k on interest only - both on same interest rate
We have a lump sum to pay into the account of 40K (which we have a latitude to do)
However we are going in circles as to what is the best bit to allocate it too - our view is the repayment 'bit' but is that right and why ?
Can anyone advise?
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