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initial interest??! pay an extra 200 on the first payment??
Corley
Posts: 61 Forumite
basicly im in the final stages of buying a house, and i got my mortgage offer stating i will be charged an extra 200 pound for initial interest??? on the first payment. The offer says it presumes we will start the mortgage on the 16 of july? and payments will be made on the 1st of every month the way it was explained was really teribble and had about half a page of stupid terms and rubbish in a crude attempt to justify this extra payment.
From how it was explained was because we are starting half way through a month we wont be paying the full month?? yet im paying the normal payment + 200???
could anyone plz shed soem light on this initial interest lark.
From how it was explained was because we are starting half way through a month we wont be paying the full month?? yet im paying the normal payment + 200???
could anyone plz shed soem light on this initial interest lark.
0
Comments
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Can I ask when you are due to make your first payment?
The only thing that I can think of is that you will start making payments on the 01/09/05. As such you are paying the interest from when the loan starts (16/07/05) to your first regular monthly premium 01/10/052014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0
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