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Fixed interest
BrotherUuurgh
Posts: 125
Forumite
in Loans
I posted a reply to a thread on this section and a reply to my reply suggested I am misunderstood when it comes to fixed interest.
I've attached a screenshot of my account. You can see in the transaction history that "Fixed Interest" was added when the loan was taken out.
Please could you guys help me understand what to expect when it comes to overpayments? I intend to hit my debt hard and thought that overpayments would save me money in the end by paying less interest. If interest is fixed on this account, how will overpayments save me money? Rebate? Something else?
Many thanks 🙂
I've attached a screenshot of my account. You can see in the transaction history that "Fixed Interest" was added when the loan was taken out.
Please could you guys help me understand what to expect when it comes to overpayments? I intend to hit my debt hard and thought that overpayments would save me money in the end by paying less interest. If interest is fixed on this account, how will overpayments save me money? Rebate? Something else?
Many thanks 🙂
Debt @ LBM 01/11/24 - £14,161.59
Debt current - £10,845.80
"When it's good, it's fun. When it's bad, it's funny". Trying to take things one step at a time.
"When it's good, it's fun. When it's bad, it's funny". Trying to take things one step at a time.
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