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End of my fix...
Dick_here
Posts: 1,605 Forumite
...so I'm going to switch to the SVR for now, most likely. But will it be based on the amount we originally borrowed, or on the amount now outstanding having paid off 3 years worth of the repayment mortgage ? And will we be paying at 22 year repayment rates or another 25 years ? 
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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If it was a 25 year mortgage, and you have paid 3 of those years fixed...it's 22 left.
You don't revert back to what you started with - you've already paid three years so the repayment is based on what mortgage you have left to pay.
Otherwise you'd end up paying three years twice over.
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
Thanks Kiki. So where my original offer states that after the fix you'll be paying £xxx per month at current SVR interest rates, does that already take account of the bit of capital I'll have paid off or is it still based on what I borrowed at the time ?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Yes, it takes account of it - otherwise the first three years would be pointless and you'd end up paying that capital back twice!
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
It takes account of the capital you've paid off.0
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