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MSE Guide: 40-year mortgages: are they worth it?
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This is the discussion thread for the '40-year mortgages: are they they worth it?' guide
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Comments
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It's extremely simple mathematics.
On the 1st example ( at 4%) adding 15 years to the mortgage term and extra interest cost of £84,000 to 'save' £220 per month makes absolutely no sense at all.
The 5% interest rate example should make even the most fiscally inept individual shocked at the extra interest payable for the £307 monthly saving.
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It's extremely simple mathematics.
If inflation didn't exist.
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