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Overpayment strategy; loan vs mortgage
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This calculator assumes your mortgage will revert to the SVR at the end of the mortgage product for the remainder of the mortgage. What is the SVR?Rob.C said:Thanks all. The confusion for me here is the interest saved on the mortgage. Is Santander's overpayment calc doing something sneaky? A one-off payment of £500 projects an interest saving of £292.83 alone
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£292.83 is the interest on £500 compounded @ 2.19% over 21 yrs 7 months.0
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